Chipotle says prosecutors probing it for securities law violations related to hiring practices

The Washington Post on May 22, 2012 released the following:

“By Associated Press

DENVER — Chipotle Mexican Grill Inc. said on Tuesday that federal prosecutors are investigating the company for possible criminal violations of securities laws related to its hiring practices.

The Department of Homeland Security’s immigration enforcement unit is already probing the company for compliance with employee work authorization laws. The company said Friday that the Securities and Exchange Commission has also issued a subpoena regarding its compliance with work authorization requirements.

The company disclosed the latest probe, by the U.S. Attorney for the District of Columbia, in a SEC filing on Tuesday.

The restaurant chain, which is based in Denver, said it is cooperating with the investigations.

In 2010, following questions from federal immigration officials, Chipotle fired about 450 Minnesota employees who couldn’t prove they were eligible to work in the U.S. Federal officials then requested worker authorization documents for employees in Virginia and the nation’s capital. That investigation continues. The company has said that it is following the law.

Shares of Chipotle rose $2.23, less than 1 percent, to close at $395.56 on Tuesday. Shares have ranged from $267.43 to $442.40 in the past 12 months.”

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