The Shaw Group Inc. (NYSE: SGR) has just announced that it has received notification from the Securities and Exchange Commission that the SEC’s Division of Enforcement has completed its informal inquiry. The company first announced this inquiry in June 2004.
The Division of Enforcement does not intend to recommend any enforcement action. This had been a hanging chad so to speak, although after having dug around into the scope of this we had surmised that nothing of any consequence would really come from this.
Shaw Group shares closed at $59.77 Thursday, and while it hasn’t yet traded it appears that shares are indicating up around $60.50 initially. The 52-week trading range is $28.60 to $77.30.
Jon C. Ogg
December 28, 2007
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.