The Law Offices of Howard G. Smith announced an investigation on behalf of Kohl's Corporation investors concerning potential violations of federal securities laws. This investigation follows the recent termination of CEO Ashley Buchanan.
Buchanan's termination was for cause, after an investigation uncovered company policy violations related to 'vendor transactions that involved undisclosed conflicts of interest.' Specifically, he allegedly directed business with a vendor founded by an individual with whom he had a personal relationship on 'highly unusual terms favorable to the vendor.'
The investigation will explore whether Kohl's or its executives engaged in any misconduct that could constitute securities fraud, adding legal scrutiny to the company's recent leadership turmoil.
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