Long term care housing giant targeted by SEC

The Securities and Exchange Commission has opened a formal investigation into Sunrise Senior Living after previously requesting information from the McLean (VA) company about insider stock sales, the timing of stock-option grants and its accounting practices.  The company, which operates 444 senior communities in the United States, Canada and Europe,disclosed the investigation in a statement yesterday but did notelaborate. The company has been conducting an internal inquiry into itsstock practices and said in February that it would change itsaccounting for certain joint ventures, resulting in a restatement ofabout $100 million in profit from 1999 through 2005.

More in the Washington Post:  http://www.washingtonpost.com/wp-dyn/content/article/2007/05/29/AR2007052901851.html