SEC Investigating Escala
The collectibles company intends to cooperate.
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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