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Technology Stocks : Escala Group, Inc

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From: Glenn Petersen	6/5/2006 7:37:00 PM
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This was inevitable: Escala Group Receives Notification of Formal Order of Investigation From the SEC Monday June 5, 2:37 pm ET NEW YORK--(BUSINESS WIRE)--June 5, 2006--Escala Group (Nasdaq: ESCL - News), a global collectibles company in stamps, coins, and art and antiques, today announced that it has received notification of a formal order of investigation from the Securities and Exchange Commission (SEC). Although the order is not confined to a particular subject matter, the Company believes that the matters being investigated relate primarily to Escala Group's transactions with Afinsa Bienes Tangibles, S.A. of Madrid. These transactions are also the subject of Escala Group's previously announced internal investigation, which is being conducted by the Audit Committee of the Board of Directors and the Audit Committee's independent law firm, Kirkland & Ellis LLP. Escala Group intends to cooperate fully with the SEC in this matter. <snip> biz.yahoo.com

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