Retail drugstore chain CVS Corp. said the Securities and Exchange Commission has launched an informal probe into how the company accounted for a 2000 transaction.
In its annual report, CVS said an internal review completed this month had found that various aspects of its accounting for the transaction were incorrect. In December, the company's audit committee hired independent counsel to review the matter. The committee reported findings to the CVS board, after which the company's controller and principal accounting officer, Larry D. Solberg, and its treasurer, Philip Galbo, resigned.
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