Integrated Electrical Settles With SEC

Law360, New York (August 31, 2007, 12:00 AM EDT) -- Power and communications provider Integrated Electrical Services has reached a settlement with the federal regulator over alleged accounting and disclosure violations committed two years before the company went into bankruptcy.

The U.S. Securities and Exchange Commission announced the deal Thursday, resolving a complaint brought in a Texas court against the Houston-based company and six former executives alleging improper accounting of receivables and insufficient disclosure of liabilities over four consecutive quarters in 2003 and 2004.

The settlement involves no monetary penalty and no admission or denial of...
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