Overseas Shipholding Group, Inc. (NYSE:OSG) Files An 8-K Other Events
Item 8.01 Other Events.
On January 23, 2017, Overseas Shipholding Group, Inc. (OSG or the
Company) announced that it has reached a resolution with the U.S.
Securities and Exchange Commission (SEC) related to a previously
disclosed investigation into the failure of OSG to record certain
federal income tax liabilities in its financial statements prior
to the second quarter of 2012. The Company has agreed to pay a $5
million civil penalty to the SEC. Amounts payable to the SEC are
subject to the approval of the U.S. Bankruptcy Court for the
District of Delaware.
Under the terms of the resolution with the SEC, OSG neither
admits nor denies the SECs allegations that the Company violated
certain provisions of the Securities Act of 1933, the Securities
Exchange Act of 1934 and related rules. The SEC has acknowledged
OSGs cooperation with the SEC staff throughout the course of its
investigation, as well as OSGs implementation of remedial
measures and improvements to internal accounting controls over
its tax reporting functions and changes to the senior management
of OSG.
The SECs administrative order resolving its investigation can be
accessed at the SEC website at www.sec.gov.
The Company issued a press release regarding the resolution,
attached as Exhibit 99.1 and incorporated herein by reference.
Section 9 – Financial Statements and Exhibits.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
| Exhibit No. | Description |
| 99.1 | Press Release dated January 23, 2017. |
Overseas Shipholding Group, Inc. (NYSE:OSG) Recent Trading Information
Overseas Shipholding Group, Inc. (NYSE:OSG) closed its last trading session down -0.04 at 5.42 with 366,498 shares trading hands.
