DD Support Board and Research Team

[janice shell]

Here's something a bit unusual. The SEC has settled with Miller Energy Resources (MILLQ), though not with the other defendants in the action.

Among other things, MILLQ undertakes to:

Terminate the registration of any and all the Company’s securities with the Commission and suspend any continuing reporting obligations of the Company by the earlier of the effective date of Miller Energy’s Joint Plan of Reorganization [Docket No. 364 in Case No. 15-00236 (the “Bankruptcy Case”) pending in the United States Bankruptcy Court for the District of Alaska (the “Bankruptcy Court”)], as approved by the Bankruptcy Court in the Bankruptcy Case, or June 30, 2016 (or such later date as the Commission may agree to in its sole discretion);

Why would the SEC encourage, let alone compel, any company to terminate registration? I assume this won't work like a revocation of registration; it'll be a voluntary termination.

Since its delisting from the NYSE, MILLQ has traded as a Pink Limited Info stock. It's a delinquent filer, among other things. So now it just doesn't have to bother with those filings?

http://www.sec.gov/litigation/admin/2016/33-10002.pdf