The U.S. Securities and Exchange Commission has opened an informal investigation into charges that Home Depot Inc. inflated profits through supplier payments meant to cover the cost of damaged merchandise, the New York Post reported on Thursday.
The top home improvement retail chain is accused of inappropriately using so-called "return-to-vendor charges'' by overbilling suppliers for goods damaged during shipping, the newspaper said.
A Home Depot spokeswoman was not immediately available for comment.
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.