Big Lots CEO Steps Down as SEC Looks into Stock Sales

Yesterday Big Lots Inc. announced that its CEO Steven Fishman intends to retire to spend time with his family.  Today the Wall St. Journal headline is that the SEC is conducting an inquiry into Fishman's $10 million sale of Big Lots stock in advance of the company's release of bad news in March 2012.  The WSJ cited Fishman's sale in its recent article that highlighted executives' trading in their companies' stock under Rule 10b5-1 plans.  WSJ, Big Lots Chief Probed by SEC