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Feds subpoena Collins & Aikman

By Greg Bowens, Automotive News

Detroit, Michigan — Collins & Aikman Corp., which has been operating under Chapter 11 bankruptcy protection since May 17, has been hit with a federal grand jury subpoena.

The U.S. Attorney’s Office for the Southern District in New York said Friday, Aug. 12, that it has ordered the Troy, Mich., auto supplier to provide it with financial records for the years 2000-2005.

The subpoena also asks for documents related to customer rebates, supplier rebates and other information. The company is being sued in a Michigan state court for allegedly providing false financial data to investors.

“It is just a request for information,” said company spokesman David Youngman. “As far as we know there is no official SEC investigation going on right now.”

The company said it would fully cooperate with the request.


From Automotive News

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