According to reports in the US media this week, the Securities and Exchange Commission has subpoenaed around a dozen former and current Delphi employees in connection with improper accounting practices at the bankrupt auto parts manufacturer.
The firm has admitted that it improperly accounted for certain transactions which helped it meet its earnings targets.
According to a reports from the NewsEdge Corporation, at least three of the former Delphi executives have declined to testify, a decision which is likely to go against them should the SEC decide at a later point to bring civil suits against them.
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