Local Energy Company Giving the SEC a Bad Case o' Gas

Categories: Biz

Terax Energy, an oil and gas production and exploration company based out of One Galleria Tower, is having major troubs with the Security and Exchange Commission, which today suspended trading of the company's securities. The ban's expected to last two weeks, at least, during which time the SEC will investigate just who's running the danged company, anyway.

Reports the Associated Press, "The SEC said questions have been raised about Terax's oil and gas operations and the identity of the people running the company." And there are other problems too, more than a few of 'em pretty major -- like, oh, the government's looking into Terax's "supposed acquisition of a controlling interest in a foreign energy firm." Stuff like that. And its phone number ain't working. Ya know. Nothing big. --Robert Wilonsky

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