Oil Driller Clears SEC Probe

Law360, New York (May 10, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has dropped its investigation into Nabors Industries Ltd.’s stock options grants and procedures, determining that the oil driller did nothing wrong.

“The staff of the Securities and Exchange Commission has informed us that they intend to close the informal inquiry regarding our historical stock option granting practices and related accounting without recommending any enforcement action at this time,” Nabors said in an SEC filing on Wednesday.

The SEC’s probe into the granting practices and accounting of the oil driller started...
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