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Pre-Paid Legal Under Investigation By SEC


From NY Times:

Pre-Paid Legal Services, under investigation by the Securities and
Exchange Commission over trading in its stock before the company
disclosed a decline in subscribers, expects a first-quarter increase in
its customer base. ''The membership base is currently up from where we
ended the year,'' the chief operating officer, Randy Harp, said. The
company said on Jan. 3 that it lost about 7,200 subscribers in the
fourth quarter, the first decline in almost 10 years. Prosecutors and
the S.E.C. are investigating trading in the company's shares ahead of
the announcement that membership had fallen, which was made after the
close of regular trading. The stock fell 25 percent the next trading
day. Pre-Paid Legal Services, which sells insurance policies that pay
for some legal services, is cooperating with investigators, Mr. Harp


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