SEC formally probes Goodyear

From Rubber & Plastics News

Akron, Ohion-The US Securities and Exchange Commission has launched a formal investigation into the reinstatement of Goodyear’s financial results over the last five years.

By formalising its probe, the SEC has more power and a wider jurisdiction. It now has the ability to subpoena witnesses, including those inside Goodyear, and has the authority to investigate outside the Akron-based firm.

The tyre maker also is conducting an investigation into possible improper accounting practices in Europe. That inquiry has spread to other overseas operations, a…

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