01:47 PM EDT, 07/02/2024 (MT Newswires) -- Beneficient (BENF) said Tuesday the US Securities and Exchange Commission is no longer investigating the company and its Chief Executive Brad Heppner.

The securities regulator informed the company that it did not intend to pursue enforcement action against the company.

Beneficient said that given the development, it was postponing its Q4 earnings release, previously scheduled for today.

The Securities and Exchange Commission had reportedly been investigating the firm and its parent GWG Holdings for possible securities violations.

GWG Holdings filed for chapter 11 bankruptcy in 2022.

Beneficient shares were up past 1% in trading Tuesday.

Price: 2.11, Change: +0.03, Percent Change: +1.44