SEC Halts Trading Of China North East Petroleum Shares

Law360, New York (March 2, 2012, 2:20 PM EST) -- Securities regulators on Thursday halted trading in shares of China North East Petroleum Holdings Ltd., citing questions about money moving from the Chinese oil driller, which has its U.S. headquarters in New York, to the personal accounts of unnamed individuals.

The U.S. Securities and Exchange Commission said it had summarily halted trading in China North East on NYSE Euronext's AMEX exchange until March 14, a 10-business-day halt that could be extended.

"Questions have arisen regarding the accuracy and completeness of information contained in [the company's] public...
To view the full article, register now.