El Paso Says SEC Has Launched Probe
From Reuters
Natural gas pipeline operator El Paso Corp. said the Securities and Exchange Commission had launched an investigation into its deep cut in natural gas reserves.
El Paso President and Chief Executive Doug Foshee said the company was cooperating fully with the probe and would comply with the SEC’s subpoenas for records.
Investors appeared to shrug off the news. El Paso rose 8 cents to $6.79 on the New York Stock Exchange.
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