Sunglass Hut and Ray-Ban parent Luxottica Group revealed in an SEC filing last week that the New York Attorney General’s office is investigating its pricing and distribution practices.
Luxottica said it would fully cooperate with the investigation by providing documents and other information to the attorney general’s office. “Although the company believes it has not violated any applicable antitrust laws, it is unable at this time to predict the outcome of this investigation,” Luxottica said.
New York Attorney General Eliot Spitzer has been on a bit of a tear lately, exacting more than $1 billion in fines from some of Wall Streets biggest firms. Spitzer has been on TV more than Rudy Guiliani lately, as he appears intent on cleaning up the market himself, even as the SEC and other governing bodies sit on the sidelines.