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SEC Investigating Escala

The collectibles company intends to cooperate.
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Escala Group (ESCL) received a formal order of investigation from the Securities and Exchange Commission.

The New York-based company said it would cooperate in the investigation, which it believes is related to Escala Group's transactions with Afinsa Bienes Tangibles of Madrid.

Escala shares lost three-quarters of their value over two days last month when Spanish investigators charged shareholder Afinsa Bienes in what they called a massive fraud scheme. Escala wasn't charged.

On Monday, Escala fell $1.31 to $6.83.

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