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8/10/2005
SEC Steps Up Probe Into Data Broker
SEC Steps Up Probe Into Data Broker
Via The Atlanta Journal Constitution:
-- MDT
SEC deepens probe of ChoicePoint, paper saysThe original article appears here.
Dow Jones News Service
August 10, 2005
NEW YORK — Federal regulators may have intensified their probe of ChoicePoint Inc. (CPS), the data broker under fire for disclosing sensitive information about at least 150,000 people to scam artists, The Los Angeles Times reported in its Wednesday editions.
On Monday, Alpharetta, Ga.-based ChoicePoint said in a quarterly filing that it had been notified that the Securities and Exchange Commission was conducting "an investigation" related to the unintended disclosures as well as stock sales by top executives.
The paper reported that in its quarterly filing to shareholders three months earlier, the company said it had been contacted as part of an "informal inquiry" by the agency. Although it might appear to be a trivial change in wording, former SEC attorneys and other experts said it probably signaled an upgrade to a formal investigation authorized by the SEC commissioners.
The SEC declined to comment Tuesday, the Times reported.
-- MDT
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