Foamex International disclosed last week that it is the subject of an informal inquiry by the Securities and Exchange Commission relating to the company’s internal controls—marking what appears to the first time that a Commission investigation specifically targeting internal controls under The Sarbanes-Oxley Act of 2002 has been made public.
In announcing its fourth quarter and full-year 2004 financials, the Linwood, Pa.-based maker of foam products said it is attempting to negotiate a settlement of the matter with the SEC.
