Defendant Name:
Office Depot, Inc.
Defendant Type:
Public Company
SIC Code:
5943
CUSIP:
67622010
Document Reference:
34-63152
Document Details
Legal Case Name
In the Matter of Office Depot, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
21-Oct-2010
Document Format
Administrative Proceeding
AAER
3198
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On October 21, 2010, the Commission instituted proceedings and imposed a cease and desist order on Office Depot, Inc. The Order alleges that Office Depot violated Regulation FD "by selectively communicating to analysts that it would not meet analysts' quarterly earnings estimates." In addition, the Commission alleged that Office Depot, Inc. improperly recorded funding from long term marketing agreements with vendors under GAAP and that there were no internal controls in place as required in the Securities Laws. Office Depot, Inc. restated these financials in 2007 and consented to cease and desist orders, while agreeing to pay a $1M penalty.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
