McGraw Hill Financial Receives Wells Notice For Commercial Loan Transactions Made In 2011
Shares of McGraw Hill Financial (NYSE: MHFI) are falling after-hours, down roughly 1.5 percent as traders digest news of the company receiving a Wells Notice from the SEC.
A Wells Notice informs the receiver the SEC has determined it may bring civil action against the company or a person within the company. The notice enables those accused of having an opportunity to provide insight into why enforcement action should not progress.
The notice received by McGraw Hill is tied to six commercial MMBS loans in 2011.
Remedies may include a cease and desist order along with disgorgement and prejudgment interest according to Bloomberg.
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