Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Sir Auric Goldfinger who wrote (68487)	3/16/2001 1:24:40 PM
From: StockDung	Read Replies (1) of 122087

Pre-Paid Legal Services confirms SEC inquiry ADA, Okla. (Reuters) - Pre-Paid Legal Services Inc., which develops and markets legal service plans, said Friday the Securities Exchange Comission requested details about its accounting practices. Shares of Pre-Paid Legal Services dropped 15.13 percent, or $2.17, to $12.17 on the New York Stock Exchange, below a previous 52-week low of $14.03. The Ada, Okla.-based company, confirming a Wall Street Journal report, said it was subject to informal SEC inquiries into the nature of accounting for its advances to sales associates. In February, shareholders filed a class action suit against the company charging that comissions paid to sales people were recorded as assets instead of expenses on financial statements. Pre-Paid Legal said it was cooperating with the SEC, the informal proceedings do not constitute an investigation, and it could not predict when the inquiry would be resolved. 10:56 03-16-01

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