Cabela's to Pay $1M Settlement to SEC

Cabela’s will pay $1 million to the U.S. Securities and Exchange Commission to settle claims that the Sidney, Nebraska, retailer’s chief financial officer, Ralph Castner, misled investors regarding the company’s profitability ratios in 2012. The SEC alleged that Cabela’s failed to eliminate from its financial statements an intercompany “fee” that World’s Foremost Bank, the retailer’s wholly owned banking subsidiary that issues credit cards to customers, paid parent company Cabela’s.