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Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

SEC Says Penn Traffic Co. Juggled Books

MANHATTAN (CN) - East Coast supermarket operator and distributor Penn Traffic Co. committed accounting fraud by repeatedly overstating its income by millions of dollars, the SEC said in a settled federal complaint. Penn Traffic juggled the books from the second quarter of fiscal year through the end of FY 2003, the SEC said.

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