SEC may revoke Friedman’s shares

Friedman’s Inc., which is facing charges of alleged accounting fraud, said the U.S. Securities and Exchange Commission may pull its shares from public trading.

The Savannah-based company said on Oct. 14 it received a supplemental Wells Notice on Thursday indicating the agency may launch a public review to determine whether Friedman’s shares should be revoked or suspended, meaning the stock would no longer be listed on the over-the-counter exchange.

The SEC and the U.S. Department of Justice began an investigation into the company after Friedman’s said last November that it would restate its financial results from 2000 through 2003.

Friedman’s said it will continue to fully cooperate with regulators in their investigations.

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