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News Summary: Probe news roils Big Lots stock

The Associated Press

THE PROBES: Big Lots Inc. said Wednesday that it had received a grand jury subpoena from the U.S. Attorney for the Southern District of New York requesting information on trades by CEO Steven Fishman, and the SEC is also investigating.

THE LATEST REPORT: The Wall Street Journal said that the FBI and federal prosecutors were reportedly looking at whether Fishman had sold $10.3 million in stock in March based on an insider's knowledge of a coming negative corporate announcement.

THE STOCK: Shares fell 5.7 percent Friday. They're off 9.9 percent since Tuesday's close.