As if things weren’t bumpy enough in 2004 for Tommy Hilfiger Corp., the situation got dicier in September, when the company disclosed that its commission policies were under investigation by the U.S. Attorney’s Office in Manhattan.

It’s too early to predict an outcome, or even when the probe will be completed, but analysts said that the company could end up with more than $100 million in tax liability. Should the investigation be expanded or get drawn out, there could also be some risk to the Hilfiger brand, said analysts. Roughly 10 shareholder lawsuits have been filed against the firm.

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