Violation Tracker Individual Record

Company: 
Nicor, Inc.
Current Parent Company: 
Southern Company
Penalty: 
$10,000,000
Year: 
2007
Date: 
March 29, 2007
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

Nicor, Inc., a major Chicago-area natural gas distributor, agreed to pay approximately $10 million to settle allegations that it engaged in improper transactions, made material misrepresentations, and failed to disclose material information regarding Nicor's gas inventory in order to meet earnings targets and increase the company's revenues under a performance-based rate plan administered by the Illinois Commerce Commission.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
utilities and power generation
Specific Industry of Parent: 
utilities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.