Tidewater Offers SEC Settlement To End Probe

Law360, New York (April 27, 2007, 12:00 AM EDT) -- Tidewater Inc., a company that provides services to the offshore energy industry, said Thursday that it submitted a settlement to the U.S. Securities and Exchange Commission that would put to rest an informal inquiry into a $26 million impairment charge recorded by the company in 2004.

In a regulatory filing, the company said that the SEC’s Miami office started the investigation into Tidewater and its chief financial officer, J. Keith Lousteau, after the impairment charge for one of the company’s Gulf of Mexico supply vessels was...
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