Harley-Davidson under SEC scanner

Motorcycle maker Harley-Davidson Inc on Wednesday said US regulators are probing its announcement in April of plans to limit production.

The Milwaukee-based company said the US Securities and Exchange Commission8217;s SEC enforcement division is also looking into allegations made by shareholders in lawsuits filed after it announced the production cuts.

8216;8216;In light of the pending shareholder litigation, the company was not surprised by the SEC8217;s inquiry,8217;8217; Harley said in an SEC filing. Harley, which announced the SEC inquiry ahead of its release on second-quarter earnings on Wednesday morning, said it is cooperating with the SEC.

On April 13, Harley cut its 2005 production target by 10,000 units to 329,000 and lowered its profit outlook for the year, causing its shares to post their biggest one-day decline and hit their lowest level in 15 months.