SEC may bring civil action against Black Box Corp.

Pittsburgh Business Times

The Securities and Exchange Commission's Division of Enforcement has sent a letter to Black Box Corp., notifying the company that it intends to recommend "civil injunctive action" against the company.

According to a filing with the SEC, Black Box received a "Wells
Notice" from the commission on Jan. 26. The notice alleges "violations
of the federal securities laws arising from certain historical stock
option practices."

Black Box is evaluating the Wells Notice, according to the SEC
filing, and "continues to cooperate with the staff with respect to the
alleged violations and possible resolution of the matters in question."

A Wells Notice is a notification from a regulator that it intends to recommend enforcement proceedings.

In 2007, Black Box CEO Fred C. Young resigned after he and 13 other company executives were named in a 2006 lawsuit brought by shareholders, which alleged th...

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