Sunday, July 31, 2005

Home Depot Records Subpoenaed

Federal prosecutors in Los Angeles, California have subpoenaed some Home Depot records relating to "environmental practices." (see Business Week's AP story here)  The SEC filing by Home Depot states here :

"The Home Depot, Inc. (the "Company") has received a grand jury subpoena from the United States Attorney's Office in Los Angeles, California, seeking documents and information relating to the Company's handling, storage and disposal of hazardous waste. California state and local government authorities are also investigating this matter, and the Company is cooperating fully with the respective authorities. Although the Company cannot predict the outcome of this matter, it does not expect that these investigations will have a material adverse effect on the Company's operating results or financial condition."

Home Depot prides itself in its corporate responsibility statement on environmental practices.  It states: "[o]ur commitment to environmental sustainability shows through our energy efficient and sustainable products, recycling practices, and business principles." The Home Depot page on environmental programs can be found here.

(esp)

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