Jury Impaneled in Kmart Bankruptcy Probe
As part of its probe into bankrupt Kmart, the U.S. attorney's office has impaneled a federal grand jury in Detroit, the Associated Press reported.
More than 20 subpoenas have been issued for records, documents and witnesses. The Troy, Mich.-based discount retailer filed for bankruptcy on Jan. 22, following a plunge of its stock, and weak holiday-season sales.
The federal investigation is centered on finding out whether former Kmart executives, including ex-CEO Chuck Conaway, will face charges in the company's bankruptcy, the AP reported.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV