Clark Consulting has received a subpoena from Eliot Spitzer, New York attorney general, seeking information related to the firm's sale of retirement products, said Jim Radosevich, vice president, corporate finance and investor relations at Clark. The attorney general's office is specifically seeking documents containing information on Clark's contingent commission agreements related to the sale of retirement products. The subpoena was issued March 9.
Clark intends to fully cooperate with the inquiry and is in the process of gathering the requested information, Mr. Radosevich said. He noted this is the first subpoena of this type Clark has received, noting that several authorities have issued subpoenas recently to other firms related to contingent commission agreements.
Marc Violette, spokesman for the New York attorney general's office, said the office cannot comment on the nature of a subpoena and can neither confirm nor deny issuing one.
