SEC Closes Investigation on Haynes and Boone Energy Client


The new year brings positive news for a Haynes and Boone alternative energy client that was under scrutiny by the SEC. On Jan. 3, 2012, the company received notification that the SEC had concluded its year-long investigation and was closing the matter without enforcement action. 

“During the early stages of the investigation, the SEC suggested that it might seek emergency action such as a restraining order to prevent the company's securities offerings or a freeze of investor assets, which would have been disastrous to the company,” said Partner Kit Addleman, who led the Haynes and Boone team. “We knew we needed to take an aggressive and proactive approach to prevent the SEC from taking enforcement action.”

Through the production of documents, a brief voluntary suspension of ongoing offerings and meetings with the SEC staff, the Haynes and Boone team successfully demonstrated the legitimacy of the company's business model, a history of accurate disclosures to investors and management’s good faith efforts at compliance — all of which led to the investigation's closing. 

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