SEC Investigates Texas Energy Company

Law360, New York (June 26, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is investigating Texas-based energy company Patterson-UTI Energy Inc., almost two months after Patterson’s former chief financial officer pled guilty to charges that carry a possible 30 year prison sentence.

In a June 26 filing with the SEC, Patterson-UTI acknowledged that the company had received a letter from the SEC stating that the Commission had commenced an investigation into possible securities law violations stemming from former chief financial officer Jonathan D. Nelson’s alleged embezzlement.

In April, Nelson pled guilty to one...
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