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Henderson plant owner facing inquiry

Wednesday, July 28, 2004 | 10:48 a.m.

KANSAS CITY, Mo. -- Interstate Bakeries Corp., the maker of Wonder Bread and Hostess Twinkies and operator of a bakery in Henderson, today said it's the subject of an informal U.S. Securities and Exchange Commission inquiry. Its shares fell as much as 5.5 percent to a 52-week low of $9.63.

The review follows Interstate's announcement earlier this month that it hired a law firm to investigate how the company set up reserves for workers' compensation insurance.

Those costs, primarily in California, rose so fast in the past year that Interstate's fiscal 2004 earnings may have to be restated.

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