Footstar Inc. (FTAR) Says SEC Ends Investigation
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In Today's 8-K Filing From Footstar Inc. (OTCBB: FTAR): On February 2, 2007, Footstar, Inc. received a letter from the Northeast Regional Office of the Securities and Exchange Commission relating to the previously disclosed investigation by the staff of the SEC concerning accounting discrepancies that resulted in the restatement of the Company’s financial statements over a five and one-half year period beginning with the fiscal year 1997 through June, 2002.
The letter states that the portion of the investigation (In the Matter of Footstar, Inc., NY-7122) related to the Company has been terminated, and no enforcement action has been recommended to the SEC. The information in the SEC’s letter was provided under the guidelines in the final paragraph of Securities Act Release No. 5310.
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