SPRINGFIELD, Mo. -- O'Reilly Automotive said today that an agreement has been reached with the U.S. Securities and Exchange Commission (SEC) to resolve a long-running investigation involving the entity formerly known as CSK Auto Corp.
The events under investigation occurred at CSK during the company's fiscal years 2002 through 2004. More than three years later, in July 2008, CSK was acquired by O'Reilly and CSK is now an indirect wholly-owned subsidiary of O'Reilly.
The matter has been resolved through the issuance by consent of an administrative order prohibiting future violations of the federal securities laws. CSK consented to the issuance of the order without admitting or denying any wrongdoing. Four former CSK employees who are referred to in the order ceased to be associated with CSK before the acquisition, and were never associated with O'Reilly. There are no fines, disgorgement payments or financial remedies associated with the settlement, said O’Reilly.
"We are pleased that we have been able to conclude this legacy matter with the SEC related to historical conduct at CSK on a basis where no financial burden will be incurred. With this legacy matter behind us, we continue to execute our strategies for the long-term success of our business," said Greg Henslee, chief executive officer of O'Reilly.