The Securities and Exchange Commission said Friday that Duke Energy has agreed to settle charges of violations of the Securities Exchange Act of 1934 involving internal accounting control deficiencies that allowed three Duke Energy traders to misclassify $56.2 million in trading losses between Jan. 1, 2001 and June 30, 2002 in order to receive larger year-end bonuses. The three were indicted in April 2004 by the U.S. Attorney’s Office for the Southern District of Texas (see Daily GPI, April 22, 2004).
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Articles from 1934
Industry Brief
Duke Energy Field Services LLC (DEFS) filed Form 15 with the Securities and Exchange Commission Monday to suspend reporting under the Securities Exchange Act of 1934. The company said it is eligible for the suspension because it has fewer than 300 security holders. DEFS said it plans to continue providing investors with quarterly financial statements and annual audited financial statements through its web site at http://www.defs.com. Denver-based DEFS was formed by combining the Duke Energy and ConocoPhillips natural gas gathering and processing businesses. The company operates or has ownership in 66 plants and 59,000 miles of pipeline. Current handled volumes total 7.3 TBtu/d of natural gas and 363,000 bbl/d of gas liquids. DEFS also owns the general partnership share of TEPPCO Partners L.P., a publicly traded master limited partnership primarily engaged in the transportation of petroleum products.
February 1, 2005
Suit Against KeySpan Alleges ‘Fraudulent Scheme’
Claiming that KeySpan Corp. violated the Securities Exchange Act of 1934, the law firm of Weiss & Yourman said last week that it is bringing a class action lawsuit against KeySpan and certain individuals associated with the company in the U.S. District Court for the Eastern District of New York. The lawsuit is being brought on behalf of purchasers of KeySpan shares between April 26, 2000 and July 17, 2001.
September 3, 2001
Suit Against KeySpan Alleges ‘Fraudulent Scheme’
Claiming that KeySpan Corp. violated the Securities Exchange Act of 1934, the law firm of Weiss & Yourman said on Thursday that they are bringing a class action lawsuit against KeySpan and certain individuals associated with the company in the U.S. District Court for the Eastern District of New York. The lawsuit is being brought on behalf of purchasers of KeySpan shares between April 26, 2000 and July 17, 2001.
August 31, 2001
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