Source: Npros 4/18/2010

Pre-Paid Legal Announces Update on SEC Subpoena

Pre-Paid Legal Services, Inc.announced that, as a part of an ongoing inquiry by the Division of Enforcement of the Securities and Exchange Commission ("SEC"), we received an additional subpoena from the SEC on April 13, 2010. The subpoena requests us to provide documents relating to certain membership information, member complaints about provider law firms, our efforts to achieve compliance with all payment card industry requirements, the resignation of Harland C. Stonecipher as Chief Executive Officer and President and the resignation of Tom Smith as a director.

The subpoena is part of an ongoing inquiry by the SEC. The SEC has stated that the inquiry is non-public and should not be construed as an indication by the SEC or its staff that any violation of law has occurred, nor should it be considered a reflection upon any person, entity or security.

We will continue to cooperate with the staff of the SEC and seek a resolution of this matter. We are not able to predict the outcome of this inquiry.

View PRE PAID LEGAL SERVICES Review

Related News

  • Pre Paid Legal To Host Convention
    Following the recent announcement of the proposed merger acquisition by MidOcean Partners, Pre-Paid Legal Services, Inc. will march into the 2011 International Convention in Oklahoma City, April 7-9 with an ambitious agenda that focuses on both the future of the company and its history as a pioneer ...  Read More...
  • Finkelstein Thompson LLP Announces Investigation of Pre-Paid Legal Services
    WASHINGTON--(BUSINESS WIRE)--Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Pre-Paid Legal Services, Inc. ('Pre-Paid Legal' or the 'Company') (NYSE:PPD) concerning the proposed acquisition of the Company by MidOcean Partners. Under the terms of the offer, Pre...  Read More...
  • Pre-Paid Legal Announces Update on SEC Subpoena
    Pre-Paid Legal Services, Inc.announced that, as a part of an ongoing inquiry by the Division of Enforcement of the Securities and Exchange Commission ("SEC"), we received an additional subpoena from the SEC on April 13, 2010. The subpoena requests us to provide documents relating to certain membersh...  Read More...
  • Pre-Paid Legal documents subpoenaed by SEC
    In an April 15, 2010 article by The Associated Press, Pre-Paid Legal has been subpoenaed by the Securities and Exchange Commission to produce documents related to complaints by customers, CEO Harland C. Stonecipher's resignation, and other issues.Replacing the 71 year old Mr. Stonecipher are two ...  Read More...

 

PRE PAID LEGAL SERVICES News Archive

New Companies on Npros

Receive News and
Updates from Npros.com

 Send me news updates
 Send me New Companies

RSS Npros News Feed