* Gets second subpoena from SEC
* Shares fall as much as 15 pct
April 15 Pre-Paid Legal Services Inc PPD.N
said it received another subpoena from regulators, seeking more
information about its membership programs and the resignation
of its chief executive last month.
Shares of the company, which provides legal service
benefits plans through a network of independent law firms
across the United States and Canada, fell as much as 15 percent
to a low of $34 before paring some of those losses to trade
down 5 percent.
The subpoena, issued by the Securities and Exchange
Commission, has also sought documents relating to member
complaints about provider law firms and efforts to achieve
compliance with payment card industry requirements.
The company said it will continue to cooperate with the SEC
and seek a resolution.
In October last year, the SEC had asked the company to
produce documents pertaining to its treasury stock repurchase
program, Affirmative Defense Response System (ADRS) program and
membership statistical information, among others.
(Reporting by Shobhana Chadha in Bangalore)