I smell hedge funds behind this "inquiry" to fit their short agenda. The funds complained to the SEC and bingo, the SEC falls for their lies. It has happened before where the SEC becomes a tool in the short hedge fund(s) agenda to make money through lies and distortion of the truth.
The SEC should be investigating the hedge funds as should the Justice Department for collusion.
Seems like quite a coincidence. what I don't get is that virtually every major brokerage firm has at least an outperform rating on LINE as well as quite a few major banks. Many of them have offered opinions that they had no problem with Lines hedging program or their accounting for it. Clearly BRY's auditors seemed to be satisified with Lines accounting. It's hard to believe that all of the analysts that have delved into the issues raised in the Barrons articles could be so wrong.
This is all a load of #$%$. It is just one last plunge to allow the shorts to exit. In this case where there is smoke there is just more smoke. As Gordon Gecko said it was wreckable so they wrecked it but not for much longer.