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Concord EFS Denies SEC Probe

The stock was hammered on rumors of an investigation.
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Concord EFS

(CEFT)

was forced to publicly deny it is being investigated by the

Securities and Exchange Commission

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after a rumor knocked a third of the value off its stock.

The electronic transaction processor broke its corporate policy of not commenting on rumors to say it hasn't been notified it is under investigation and is unaware of any SEC interest in gathering information about it. The company added that it filed financial statements certified by its CEO and CFO with the SEC Thursday.

The denial raised the company's shares but nowhere near to their pre-rumor levels. Concord was recently trading down 18% to $16.11 after touching a low of $12.86 before making the statement.