Cendant denies reports of involvement in federal investigation

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New York--Cendant Corp., which has holdings in direct marketing, real estate and travel services, Friday said its officers and directors are not involved in an investigation of its practices. The statement was issued in response to news reports that the U.S. attorney for New Jersey had re-opened its investigation of the company for alleged accounting fraud in 1998. The original allegations involved former Cendant chairman Walter Forbes and vice chairman Kirk Shelton, who in March 2001 were sued by the Securities and Exchange Commission for accounting fraud. The two executives resigned from Cendant in 1998.
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