Harley-Davidson announced that the Securities and Exchange Commission is investigating shareholder complaints that the motorcycle manufacturer engaged in channel stuffing.
In a statement, the company said that it was not surprised by the SEC's inquiry and was cooperating with the investigation. According to a filing this week, Harley-Davidson was informed on Monday that the SEC's Enforcement Division would be investigating shareholder complaints filed after the company's April announcement that motorcycle shipments would not meet the original target numbers for 2005, and short-term production would be limited. Last year, the company shipped 317,000 motorcycles and announced plans to move 339,000 this year. The revised number was set at 329,000 bikes.
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