Home Shopping Network disclosed an SEC inquiry.
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The Clearwater, Fla.-based company said the Securities and Exchange Commission initiated an “informal inquiry” into the run-up in Home Shopping’s stock price just before the company disclosed it was in negotiations to buy rival COMB Co. Home Shopping said it cooperated fully with the SEC and said it has no indication that it is the target of a formal probe. The price of HSN shares jumped $5 in heavy trading on Jan. 19, the day before the merger talks were announced. The deal eventually fell through.
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