Nicor Inc.

Chicago, IL: (Mar-29-07) The US Securities and Exchange Commission filed charges against Nicor accusing the company of misleading accounting. The suit alleged that Nicor, which provides natural gas to most of Northern Illinois outside of Chicago, fraudulently accounted for natural gas costs in the period of 2000 to 2002 and is still the subject of proceedings before the Illinois Commerce Commission. Consumer advocates say the company owes approximately $190 million in refunds to its customers. In a settlement agreed upon, Nicor agreed to pay a $10 million penalty to formally settle charges. [CHICAGO TRIBUNE: GAS ACCOUNTING]

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Published on Apr-2-07