Article: Rocky Mount execs, elastic supplier settle with the SEC. (Rocky Mount Undergarment Co. Inc., Stretchlon Industries Inc.)

ROCKY MOUNT EXECS, ELASTIC SUPPLIER SETTLE WITH THE SEC

WASHINGTON (FNS) -- Two executives of Rocky Mount Undergarment Co., Inc., and the company that supplies the North Carolina manufacturer with elastic have settled Securities and Exchange Commission charges that they overstated the value of Rocky Mount's inventory for 1985 in violation of federal securities laws.

In agreeing to settle the charges, Rocky Mount co-founder and former chairman David Greenberg, senior vice president Gilbert J. Samuels and Stretchlon Industries, Inc., did not admit guilt, according to court documents filed Monday in U.S. District Court in Raleigh, N.C.

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