US baked goods firm Interstate Bakeries has announced that it has received notice from the US Securities and Exchange Commission (SEC) that it is conducting an informal inquiry regarding the company’s workers’ compensation reserves.
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The company said the SEC’s notice followed Interstate Bakeries’ announcement that the its board’s audit committee had retained the law firm Skadden, Arps, Slate, Meagher & Flom to investigate the company’s manner for setting its workers’ compensation reserves and other reserves.
Interstate Bakeries, whose brands include Wonder, Hostess and Home Pride, said it intends to cooperate fully with the SEC’s inquiry.
