The Financial Services Authority (FSA) has confirmed it is to fine sportswear retailer JJB Sports £455,000 for misleading the market over the cost of two acquisitions in 2007 and 2008.JJB will pay the fine in six monthly instalments.The FSA's investigation into the company's stock exchange announcements in the run-up to JJB's interim results on 26 September, 2008, found that a false market in JJB shares was created by inadequate disclosure of the costs of the acquisitions of the Original Shoe Company and Qube.The latter was bought for a pound, but JJB's initial regulatory news announcement failed to disclose that it had settled Qube's £6.47m overdraft as part of the deal, while in the case of the £5m acquisition of the Original Shoe Company, the company neglected to mention it had also paid more than £10m for the retail chain's stock."JJB's failure to disclose information about the two acquisitions denied investors the ability to fully understand its financial position and make informed investment decisions. The repeated failure to disclose this information showed a lack of regard for the market, the disclosure rules and investors," said the FSA's director of markets, Alexander Justham.JJB's management noted that the violations took place on somebody else's watch, when the company had a completely different management team led by the since departed Chris Ronnie."No further investigations into the company by the FSA are ongoing, and the company welcomes the finality brought by the conclusion of this investigation," a statement from the company said.