The Shaw Group Inc. (NYSE: SGR) has just announced that it has received notification from the Securities and Exchange Commission that the SEC’s Division of Enforcement has completed its informal inquiry. The company first announced this inquiry in June 2004.
The Division of Enforcement does not intend to recommend any enforcement action. This had been a hanging chad so to speak, although after having dug around into the scope of this we had surmised that nothing of any consequence would really come from this.
Shaw Group shares closed at $59.77 Thursday, and while it hasn’t yet traded it appears that shares are indicating up around $60.50 initially. The 52-week trading range is $28.60 to $77.30.
Jon C. Ogg
December 28, 2007
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