Kid Brands (KID) Plunges on Violations Investigation

Kid Brands Inc. (KID) plummeted on Tuesday on news the company was under investigation for customs violations.

Two senior managers has been fired by the company as part of the ongoing investigation, as custom duties were found to be paid incorrectly.

Consequently, the company has delayed its annual and fourth-quarter earnings report.

Kid Brands closed Tuesday at $6.91, down $2.33, or 25.22 percent.