Alerts

SEC Announces First Non-Prosecution Agreement Under New Cooperation Initiative

December 21, 2010

Yesterday, the Securities and Exchange Commission announced its first non-prosecution agreement under the Division of Enforcement’s new cooperation initiative announced earlier this year. Under the agreement with Carter’s, Inc., the children’s clothier, the Enforcement Division agreed not to charge Carter’s with any violations of the securities laws relating to the alleged conduct of its former Executive Vice President, Joseph Elles, in exchange for, among other things, the company’s continued cooperation with the SEC’s investigation and any related litigation or proceeding to which the SEC is a party.