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Violation Tracker Individual Record

Company: Nicor, Inc.
Current Parent Company: Southern Company
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Penalty: $10,000,000
Year: 2007
Date: March 29, 2007
Offense Group: financial offenses
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 Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: utilities and power generation
Specific Industry of Current Parent: utilities
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.