Shares of McGraw Hill Financial MHFI are falling after-hours, down roughly 1.5 percent as traders digest news of the company receiving a Wells Notice from the SEC.
A Wells Notice informs the receiver the SEC has determined it may bring civil action against the company or a person within the company. The notice enables those accused of having an opportunity to provide insight into why enforcement action should not progress.
The notice received by McGraw Hill is tied to six commercial MMBS loans in 2011.
Remedies may include a cease and desist order along with disgorgement and prejudgment interest according to Bloomberg.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
