* Says SEC probing if false documents were filed
* SEC seeks documents on financials, auditor dealings
March 18 Chinese printing equipment maker
Duoyuan Printing Inc said it is being investigated by
U.S. financial regulators over a possible securities fraud and
was served a subpoena relating to administrative issues.
The U.S. Securities and Exchange Commission (SEC) has
initiated a formal probe to investigate if Duoyuan filed false
documents, failed to maintain adequate financial records, and
deceived its external auditor.
In a filing with the SEC, the company said it was served the
subpoena on Nov. 10, 2010. It is not clear if this information
was made public earlier.
The subpoena is for documents relating to Duoyuan's
termination of Deloitte as its external auditor, its financials,
and its relationship with a unit.
In September last year, the company's top officials resigned
after its audit committee dismissed Deloitte as its auditor.
The Beijing-based company is also conducting its own
internal investigation, it said in a filing dated March 18.
Duoyuan's shares were down 3 percent at $2.01 in early
morning trade on Friday on the New York Stock Exchange.
(Reporting by Sayantani Ghosh; Editing by Roshni Menon)