GlobeSt.com reported Tuesday the SEC had turned the informal investigation into a formal one. The 8-K released on Tuesday by Aimco gave no details of the investigation.
If you missed the company's notice of an informal inquiry from the Securities and Exchange Commission, it's understandable. The information was contained in a footnote deep in its massive 10-K released on March 11.
The central regional office of the SEC is seeking voluntary assistance in regarding information and records, according to the footnote in the 10-K.
The SEC inquiry also involves the company's forecasted guidance and accounts payable, according to the footnote.
Jennifer Martin, company spokeswoman, says she cannot comment beyond the SEC reports. But she says the company is cooperating with the SEC and does not believe the outcome of the investigation will have any material adverse effect on the company.
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