U.S. SEC obtains asset freeze over suspected illegal trading in Anadarko

FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai - Copyright Toru Hanai(Reuters)

By Reuters

Published on 29/04/2019 - 19:34•Updated 19/04/2024 - 04:10

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NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Monday obtained an asset freeze in connection with suspected fraudulent trading in Anadarko Petroleum Corp before the oil company agreed to be acquired by rival Chevron Corp.

U.S. District Judge Gregory Woods in Manhattan granted the freeze over accounts linked to suspicious purchases by unknown purchasers of Anadarko securities between Feb. 8 and April 1, 2019, according to a court filing.

Chevron announced on April 12 it would buy Anadarko for about $33 billion. Another oil company, Occidental Petroleum Corp, launched an unsolicited $38 billion bid for Anadarko on April 24.

(Reporting by Jonathan Stempel in New York; Editing by Phil Berlowitz)

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