SEC Discloses Investigation of Xhibit Corp. in Objection to SkyMall Bankruptcy Sale

In an objection to the bankruptcy court sale of certain (but strangely somewhat undefined) assets of SkyMall, the U.S. Securities and Exchange Commission made a public acknowledgement of a heretofore non-public investigation of SkyMall’s publicly-traded parent company.

In the objection, a copy of which is embedded below, the SEC discloses that it “has issued an investigative subpoena to Xhibit Corp. requiring it to produce documents and records of Xhibit and its affiliates and subsidiaries (including SkyMall LLC) in connection with the Commission’s non-public investigation In the Matter of Xhibit Corp. (Internal File No. LA-4416).”

While the objection offers no further detail regarding the SEC’s investigation, much has been written about the strange history of SkyMall’s parent, Xhibit Corp. (see, for example, this story from the Los Angeles Times).

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