Capital One Warned Some of Investigation
Capital One Financial Corp. gave advance notice to some of its lenders and advisors that its finance chief planned to resign amid an insider trading probe.
The McLean, Va., consumer credit company said that it had discussions with some of its “lenders under its corporate credit facility, advisors, rating agencies and regulators shortly before the public announcement” last week of the probe and the resignation of Chief Financial Officer David Willey.
Capital One said its advance discussions “complied with the laws concerning fair disclosure and no investor was disadvantaged in any way.”
Capital One’s stock fell 44 cents to $27.04 on the NYSE.
From Associated Press
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