Probes Reporter Provides Updates On Six SEC Investigations

In its latest report, the Probes Reporter discusses several companies that are currently the subject of SEC investigative actions. Probes Reporter identifies the existence of undisclosed SEC probes by filing Freedom of Information Act requests with the SEC concerning the companies in question.

Here’s an update on six potentially critical investigations.

1. Abbott Laboratories ABT

Probes Reporter first learned of undisclosed SEC investigative action regarding Abbott on May 24, but received confirmation of “involvement in on-going enforcement proceedings that remain undisclosed” as of July 9, 2015.

2. Accuray Incorporated ARAY

Probes Reporter has been tracking undisclosed SEC investigative activity regarding Accuray since April 13. On June 9, an SEC letter confirmed undisclosed “on-going enforcement proceedings.”

3. American Financial Group Inc AFG

In June of 2015, the SEC disclosed to Probes Reporter the existence of “nonpublic files” from a date range of February 2014 to May 2014 pertaining to American Financial Group. The only public record relating to this activity is a Case Closing report dated May 8, 2014 and titled “American Financial Group, Inc and Great American Insurance Company.”

4. Health Net, Inc. HNT/Centene Corp CNC

Probes Reporter was first notified of undisclosed, unspecified SEC investigative activity pertaining to Health Net on Jun 16, 2015. In a letter dated July 21, the SEC confirmed Health Net’s “involvement in on-going enforcement proceedings.” Probes Reporter notes that it has no information that indicates investigative action toward Centene, which is in the process of a merger with Health Net.

5. NQ Mobile Inc (ADR) NQ

Probes Reporter cautions that investors have “a lot to worry about here.” On July 21, 2015, the SEC confirmed that the company is involved in ongoing enforcement proceedings dating back to late last year. In March 2015, the company confirmed that “We have responded to requests from the Staff of both the New York Stock Exchange and the Securities and Exchange Commission related to the Muddy Waters allegations and the Special Committee investigation.”

The Probes Reporter notes that a former auditor was “shown the door” in mid-2014 after proposing a new audit with terms that were “apparently not to the liking of management and the Audit Committee.”

6. UTi Worldwide Inc. UTIW

Following the company’s disclosure of its receipt of a subpoena from the SEC relating to its 2015 refinancing on June 8, Probes Reporter received an update from the SEC dated July 13 that confirmed that a disclosed SEC investigation is ongoing.