Regulators Launch Probes Into SemGroup Energy

Law360, New York (July 28, 2008, 12:00 AM EDT) -- Federal and state regulators have opened up investigations into a public unit of SemGroup LP, which ran for cover under bankruptcy protection last week after suffering billions of dollars in losses from bad bets on energy contracts.

SemGroup Energy Partners LP said in a Thursday 8-K filing that the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office in Oklahoma City are conducting separate inquiries into the energy company.

The SEC asked the firm on July 21 to preserve, retain and produce certain documents relating...
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