Nabors Executive Perks Put Under SEC Microscope

Law360, New York (November 10, 2011, 2:54 PM EST) -- The U.S. Securities and Exchange Commission is investigating perks and other benefits received by oil drilling contractor Nabors Industries Ltd.'s officers and directors, including the use of private aircraft, the company disclosed Wednesday.

The SEC informed the company of its inquiry Sept. 21, Nabors said in a regulatory filing. The inquiry began about a month before the company announced that its longtime CEO would be stepping down — a departure that earned him a $100 million payment.

“Our audit committee and board of directors have been...
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