Shares of ZZZZ Best Co., a fast-growing Reseda-based carpet-cleaning concern, tumbled Friday in very heavy over-the-counter trading. The stock closed down $4.25 at $11.125 as more than 1 million of the 11 million shares in public hands were traded.
Traders said the selloff was a reaction to a story in The Times on Friday which reported that ZZZZ Best had submitted thousands of dollars in false credit card charges. Company chairman and founder Barry Minkow attributed the problem to unscrupulous employees who misused customers' credit card numbers. The employees were fired, Minkow said.