SEC Probes Linn Energy Over $4.3B Berry Deal

Law360, New York (July 2, 2013, 5:53 PM EDT) -- The U.S. Securities and Exchange Commission has opened an investigation into Texas oil and gas company Linn Energy centering on the company's proposed merger with Rival Berry Petroleum Co., which is worth $4.3 billion.

Linn and its affiliate executing the transaction are both subject to the probe, which the company disclosed Monday. The investigation is targeting both the Berry deal and Linn's purported use of financial measures and hedging strategies that are not in compliance with generally accepted accounting principles.

"The SEC has stated that the...
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