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U.S. SEC charges oilfield services agency, former exec with disclosure failures -statement

WASHINGTON, Nov 22 (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Monday mentioned Texas-based oilfield services firm ProPetro Holding Corp (PUMP.N) and its founder and former chief govt officer have agreed to settle charges they didn’t correctly disclose a few of his govt perks and two inventory pledges.

Without admitting or denying the SEC’s findings, ProPetro and former CEO Dale Redman agreed to cease-and-desist from additional violations, and Redman agreed to pay a $195,046 penalty, the company mentioned in a press release.

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Reporting by Chris Prentice
Editing by Chris Reese

The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

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