SEC looking at CVS for stuffed animal barter transaction

March 20, 2006

CVS has reported that the U.S. Securities & Exchange Commission has started an informal inquiry into how it accounted for a barter transaction in 2000 that involved stuffed animals. The company's audit committee has determined that accounting for the 2000 transaction was incorrect, CVS said in a filing with the SEC.

SEC looking at CVS for stuffed animal barter transaction

CVS has reported that the U.S. Securities & Exchange Commission has started an informal inquiry into how it accounted for a barter transaction in 2000 that involved stuffed animals. The company's audit committee has determined that accounting for the 2000 transaction was incorrect, CVS said in a filing with the SEC. The inquiry relates to accounting for the barter sale of some stuffed animals in a noncash transaction to a third party in 2000.

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