Business Services Industry
Rite Aid Interrupts Stock Trading as Accounting Firm Resigns.
Knight Ridder/Tribune Business News, November, 1999 by Dochat, Tom
Knight Ridder/Tribune Business News
Nov. 17 -- Trading in Rite Aid Corp. stock was delayed for more than two hours Tuesday pending developments related to resignation of the drugstore chain's accounting firm.
Rite Aid said it would file a report with the U.S. Securities and Exchange Commission by Wednesday explaining the reasons for the resignation of KPMG LLP, which had served as Rite Aid's auditor for 31 years.
East Pennsboro Twp.-based Rite Aid said Monday that KPMG resigned last week. The New York Stock Exchange said it delayed trading in Rite Aid stock Tuesday because it wanted the company to provide more information on the resignation. Trading was resumed after Rite Aid's late-morning announcement that it would file an explanation with...
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