Goodyear Announces Termination of SEC Investigation
The Goodyear Tire & Rubber Company has confirmed that staff of the Securities and Exchange Commission have terminated their investigation into accounting matters included in the company’s restatement of financial results, announced in October 2003, and in subsequent public filings.
The staff notified Goodyear that it will not recommend enforcement action against the company. Goodyear has been informed that the SEC has also terminated its investigation and will not recommend enforcement action against the company’s former chief financial officer and former chief accounting officer.
The company first disclosed the existence of the SEC investigation in November 2003. It subsequently announced that SEC staff had issued a “Wells Notice” in August 2005.