SEC Halts Investigation Into Allegheny's Bookkeeping

Law360, New York (March 1, 2006, 12:00 AM EST) -- The utility company Allegheny Energy Inc. announced in its annual report that the Securities and Exchange Commission has completed its probe, which dates back to 2004, into the energy company’s accounting affairs.

“The company had maintained all along that it acted properly,” said Fred Solomon, a spokesperson for Allegheny. “We’re certainly happy that the investigation was terminated.”

The Greensburg, Penn.-based energy company said that the SEC had ended its informal investigation into Allegheny’s accounting, disclosure and internal control matters. No enforcement action was recommended to the...
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