Able Energy (ABLE) Receives Formal Order of Private Investigation from SEC
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Able Energy, Inc. (Nasdaq: ABLE) received a copy of a Formal Order of Private Investigation from the Securities and Exchange Commission (SEC) pursuant to which the Company, certain of its officers and a director were recently served with subpoenas requesting certain documents and information.
The Formal Order authorizes an investigation of possible violations of the anti-fraud provisions of the federal securities laws with respect to the offer, purchase and sale of the Company’s securities and the Company’s disclosures or failures to disclose material information in its required filings.
The Company’s believes that it did not violate any securities laws and intends to cooperate fully with and assist the Commission in its inquiry. The Company also believes that this Formal Order relates to the Commission’s earlier informal investigation which was previously disclosed by the Company in its Current Report on Form 8-K filed with the Commission on August 12, 2005.
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