SEC Seeks Docs From Basic Energy In Possible Securities Probe

Law360, New York (October 15, 2012, 4:13 PM EDT) -- Basic Energy Services Inc. said Monday that it had received a subpoena from the U.S. Securities and Exchange Commission requesting documents and information that the company believes is connected to an investigation into a possible violation of federal securities laws.

While Basic hasn’t yet reviewed a copy of the SEC’s formal order of investigation, it said it had received the subpoena on Oct. 4 and presumes the agency is probing whether the oil well services provider and potentially others broke securities laws, including Regulation Fair Disclosure,...
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