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SEC Investigates Goodyear

The federal Securities and Exchange Commission is investigating accounting problems at Goodyear Tire & Rubber Co., the world’s largest tire maker said. News of the investigation sent Goodyear shares down 96 cents, or nearly 10 percent, to close at $8.96 on the New York Stock Exchange. The stock had been rebounding recently as the company pushed a new line of tires that analysts said could help make Goodyear profitable again.

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From Detroit Free Press

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AKRON, OH — The federal Securities and Exchange Commission is investigating accounting problems at Goodyear Tire & Rubber Co., the world’s largest tire maker said.

News of the investigation sent Goodyear shares down 96 cents, or nearly 10 percent, to close at $8.96 on the New York Stock Exchange. The stock had been rebounding recently as the company pushed a new line of tires that analysts said could help make Goodyear profitable again.

But in a filing with the SEC, Goodyear said the accounting investigation and other issues could negatively affect the company’s finances.

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