Talx Says SEC Examining Stock Sale
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Talx Corp., accused in shareholder lawsuits of improper accounting, said the Securities and Exchange Commission is investigating financial results reported last year by the maker of payroll software.
Talx stock plunged 24%, falling $4.59 to $14.37. The Nasdaq Stock Market halted trading in Talx shares for more than two hours.
Federal regulators are looking at the company’s secondary stock offering in August 2001 and its second-quarter financial results in fiscal 2001, according to Talx’s filing with the SEC. St. Louis-based Talx said it’s cooperating with the SEC.
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