Court Approves $10M Nicor Settlement

Law360, New York (May 8, 2007, 12:00 AM EDT) -- A district court has approved a $10 million settlement between energy company Nicor Inc. and the U.S. Securities and Exchange Commission, closing the book on the long-running case brought over an alleged accounting fraud scheme.

The U.S. District Court for the Northern District of Illinois approved the settlement on April 30. Nicor disclosed the court’s ruling on Tuesday in a filing with the SEC.

The fine will settle allegations brought against both the company and former Assistant Vice President and Controller Jeffery Metz.

The SEC’s civil...
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