Linn Energy (NASDAQ:LINE) investors may feel a sting today after the company announced late yesterday that the SEC has opened an informal inquiry into its financial disclosures and its pending merger with Berry Petroleum (NYSE:BRY). Although the SEC stated that the inquiry shouldn’t be construed as an indication that the SEC has a negative view of any entity, individual or security, those words are likely to fall on deaf ears. I’ve personally been enjoying some fat dividends from LINE over the years, so certainly I’ll be watching closely today to see how this shakes out.
LDK Solar (NYSE:LDK) is down in pre-market this morning after announcing the sale of 25 million newly issued shares to Fulai Investments Limited for $1.03 per share with an aggregate purchase price of $25.75 million. LDK closed at $1.40 yesterday afternoon.
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