Royal Group Probed by US Justice

Royal Group (NYSE:RYG) is being probed by US Dep't of Justice. Royal Group has figured prominently in this blog's weekend follies which identifies companies issuing substantive press releases at odd-ball hours. Royal Group is already under investigation by a number of securities regulators and law enforcement entities. The issues under investigation relate to accounting improprities and fraud. No allegations have been proven. Royal Group spokesman Richard Wertheim indicates that its not uncommon for DOJ to be called in by the SEC. Royal Group has just released its annual 2005 results one month late. Huge losses were reported. While the investigative practices may not be uncommon, management has clearly run the ship aground.