AFC Tells of Formal Investigation by SEC
- Share via
AFC Enterprises Inc., the owner of Popeyes Chicken & Biscuits restaurants, said the Securities and Exchange Commission has authorized a formal investigation into the company’s financial restatements.
Regulators had started an informal inquiry in April 2003, Atlanta-based AFC said.
On March 24, 2003, AFC said it would restate earnings for 2001 and for the first three quarters of 2002.
A month later, it said it would also restate results for 2000.
Last year, AFC sued its former accounting firm Arthur Andersen, blaming it for the restatements.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
