SEC ends Goodyear accounting practices probe

AKRON (March 29)--The Securities and Exchange Commission has terminated its investigation, launched in November 2003, into accounting practices at Goodyear, according to the company.

The SEC's probe involved the tire maker's restatement of financial results for 2003 and subsequent public filings. Goodyear said it was told by the SEC that the agency does not plan to take action against the firm.

The commission also said it dropped its investigation against Goodyear's former chief financial officer and former chief accounting officer, the company said, adding that the SEC did not recommend taking action against either.

From Rubber & Plastics News (A Crain publication)