Mirant to be investigated by SEC

ATLANTA - The SEC will begin investigating the accounting practices at energy firm Mirant. <br> <br> The Atlanta trader and marketing company acknowledged it may have overstated the value of certain assets and a liability in 2001 in its quarterly earnings report last week. The SEC will launch an informal inquiry into the mistakes. <br> <br> The accounting overstatement related to a debt of $100 million. Eighty-five million of that was in natural gas inventory and $68 million was money the company expected to collect. <br> <br> Mirant says Monday the review was expected and that they will cooperate fully. <br> <br> Mirant lowered its financial targets for next year because of ongoing upheaval in the energy sector and outlined steps it would take to bolster its balance sheet. <br> <br> Investors responded nervously to the news. Shares on the New York Stock Exchange are down 13 percent, to $3.03.

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