In those instances noted below the SEC cited the "law enforcement exemption" of the Freedom of Information Act (FOIA) as basis to block our access to the detailed records on the public companies included in this update.
As a matter of law, they are acknowledging some sort of investigative activity. The SEC will not yet disclose the details of that investigation. The SEC reminds us that its assertion of the law enforcement exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security.
If we can find no clear disclosures of SEC investigative activity made by the public company, and we have a response from the SEC that suggests there is enforcement activity, we then add it to the Probes Reporter Watch List.
The following are either added or maintained on the Probes Reporter Watch List
COMPANIES WITH POSSIBLE UNDISCLOSED SEC INVESTIGATIONS
|Company Name||Ticker||Date of Response|
|Arena Pharmaceuticals Inc.||ARNA||2-Apr-2014|
|Armstrong World Industries Inc.||AWI||28-Mar-2014|
|Markwest Energy Partners, L.P.||MWE||26-Mar-2014|
|PNC Financial Services Group Inc., The||PNC||26-Mar-2014|
|Quest Diagnostics, Inc.||DGX||26-Mar-2014|
|Time Warner Inc.||TWX||27-Mar-2014|
There are several reasons the SEC might cite the law enforcement exemption as basis to block our access to records. Not all would be of concern to investors today. That is why we use the term “possible” in describing SEC investigations at this point in our research process, until we have confirmed through the appeals process that there is an ongoing investigation.
The Probes Reporter™ Watch List tracks those companies involved in undisclosed SEC investigative activity. Names are added to and removed from this list frequently based on responses we received to Freedom of Information Act (FOIA) requests we file with the SEC. This is our latest update.