SEC investigating Sunrise Senior Living

MCLEAN, Va., May 29 (UPI) -- Sunrise Senior Living said Tuesday the U.S. Securities and Exchange Commission opened a formal investigation into insider stock trading.

Sunrise had said in December the SEC requested information from the company about insider stock sales, timing of stock option grants and its accounting practices.

"Sunrise has fully cooperated, and intends to continue to fully cooperate, with the SEC," the company said in a statement.

Sunrise operates 444 senior living facilities in the United States, Canada, Germany and the United Kingdom.

Earlier this month, Sunrise fired its chief financial officer, Bradley B. Rush, after an independent review of the company's accounting practices.