SEC Asked Williams in Feb. to Clarify Results
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Williams Cos., the second-largest U.S. natural gas pipeline operator, said it was asked by federal regulators in February to clarify its third-quarter earnings.
The Securities and Exchange Commission sent “an informal, routine inquiry letter” that was answered promptly, Williams spokesman Jim Gipson said. The SEC has no other questions “as far as we know,” and Williams considers the matter closed, he said.
An SEC spokesman declined to comment.
The SEC is examining the accounting of companies such as Tulsa, Okla.-based Williams, Adelphia Communications Corp. and Global Crossing Ltd. after Enron Corp., once the biggest energy trader, hid losses and debt from investors and filed for bankruptcy.
Williams shares fell $1.09 to $23.08 on the NYSE, after earlier touching $21.40, an 11% decline.
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