SEC tells Goodyear it will take action over restatement

Akron, Ohio –The US Securities and Exchange Commission has notified Goodyear it will recommend civil or administrative action against the company and/or former executives concerning an accounting scandal.

The action stems from the SEC’s investigation of Goodyear’s restatement of financial results, which the Akron-based tyre maker announced in October 2003. The SEC notified Goodyear actions can be brought against the company for alleged violations of the Securities and Exchange Act of 1934 relating to the maintenance of books, records and internal accounting controls, the establishment of…

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