Zale Says SEC Is Examining Its Accounting - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Zale Says SEC Is Examining Its Accounting

Updated:
DALLAS (AP) _ Jewelry retailer Zale Corp. said Monday the Securities and Exchange Commission has started a probe into its accounting, executive pay and other matters.

Shares of Zale fell $2.14, or 7.7 percent, to $25.66 in early trading on the New York Stock Exchange after the news.

The SEC is looking into Zale's accounting for extended service agreements, leases, and accrued payroll as well as other matters, Zale said in a statement.

The SEC has subpoenaed materials related to the accounting issues as well as executive pay and severance, earnings forecasts, stock trading, and the timing of certain vendor payments.

Dallas-based Zale said it is cooperating with the SEC's investigation while conducting its own review, and believes its accounting ``complied with generally accepted accounting principles.''
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.