Nicor Inc. Settles Fraud Charges For $10M

Law360, New York (July 10, 2006, 12:00 AM EDT) -- Natural gas provider Nicor Inc. has agreed to pay the U.S. Securities and Exchange Commission $10 million to settle allegations that the company illegally inflated profits over three years.

Under the terms of the settlement, which is still subject to final approval by the agency, Nicor will deposit $10 million with the SEC, but neither admit nor deny wrongdoing.

“We are pleased to be taking another step in the direction of a final resolution regarding this matter,” said Nicor Vice President Paul Gracey. “Most importantly, since...
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