US Liquids is Target Of Informal SEC Investigation

Date: May 1, 2003

Source: News Room

U S Liquids Inc. (Amex: USL), a provider of liquid waste management services, is the subject of an informal investigation by the Securities and Exchange Commission. On April 29, 2003, the company announced that, due to improper recording of job costs and certain other items at one of its business units, the company intends to restate its results of operations for the years ended December 31, 2000, 2001 and 2002. In connection with this announcement, the company also contacted the SEC and has been advised that the SEC intends to conduct an informal investigation of the issues leading to the proposed restatement.
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