Sonic Falls Most in Three Weeks on Accounting Weakness
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Sonic Automotive Inc., the third-largest public U.S. auto-dealership group, plunged the most in three weeks after telling regulators it delayed the filing of its annual report because of accounting at its dealerships.
Sonic fell 3.1 percent to $23.60 at the close in New York, the biggest one-day decline since Feb. 25. The shares dropped as much as 8.4 percent, the biggest intraday slide since Oct. 15.