WHX Charged With SEC Violations

New York-based WHX Corp., the nation’s ninth-largest steelmaker, should pay $1.3 million for violating securities regulations last year in a failed hostile bid for Dynamics Corp. of America, the Securities and Exchange Commission said. The SEC filed administrative charges against WHX, alleging it failed to comply with rules requiring bidders to make their offers available to all of the target company’s shareholders. The SEC is also seeking a cease-and-desist order that would require WHX to comply with tender-offer rules in the future or face stiffer sanctions. WHX disputed the allegations. WHX disclosed in December that the SEC was investigating its attempted takeover of Dynamics. WHX shares fell 56 cents to close at $12.69 on the NYSE.