Shares of the retailer fell more than 2 percent
in extended trade after closing down at $8.85 on the New York
Stock Exchange.
The company said the SEC requested information on October 7
regarding its liquidity, cash position, debt, and public
offering of common stock announced on September 26.
A J.C. Penney shareholder had earlier sued the company when it
announced its decision to issue more than $810 million in stock
to boost liquidity.
The company said it is cooperating with the U.S. regulatory body
on its request and providing the necessary material, in a
regulatory filing with the SEC. (http://r.reuters.com/xyz25v)
The company has been desperately trying to turn its fortunes
around since its failed attempt in 2012 to go upmarket.
[© 2013 Thomson Reuters. All
rights reserved.]
(Reporting by Devika Krishna Kumar in Bangalore; editing by
Bernard Orr)
Copyright 2013 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](column_spacer.png) |