Ex-El Paso Execs Settle SEC Suit Over Reserves

Law360, New York (July 14, 2008, 12:00 AM EDT) -- Five former executives of El Paso Corp. have agreed to pay a total of $235,000 to end a civil suit by the U.S. Securities and Exchange Commission alleging that the energy company inflated figures relating to its natural gas reserves in order to boost share price.

The SEC reached the deal Friday with five former executives of the Texas company's exploration and production business group: Rodney D. Erskine, former president; Randy L. Bartley, former senior vice president; and Steven L. Hochstein, John D. Perry and Bryan...
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