Tuesday, April 29, 2008

Whole Foods CEO Will Not Be Penalized Over Web Postings

"AUSTIN, Texas (AP) - Whole Foods Markets says federal securities regulators recommend no action against the Austin-based supermarket chain over its chief executive's anonymous postings on financial-news Web sites.

That's the word from the organic and natural foods retailer in a Friday filing with the Securities and Exchange Commission.

Last July, Whole Foods disclosed that the SEC and company directors were investigating postings by CEO John Mackey. From 1999 to 2006, Mackey anonymously touted Whole Foods stock and suggested that rival Wild Oats Markets might fall into bankruptcy."

Read the article