News Briefs.

Concord Reacts To SEC Rumor

Concord EFS Inc. took the unusual step Aug. 8 of issuing a statement denying that it was being investigated by the U.S. Securities and Exchange Commission. Concord CEO Dan M. Palmer said the SEC had neither notified Concord nor requested information. Palmer also filed sworn statements attesting to the accuracy of financial information submitted to the SEC. Concord's stock price on Aug. 8 dropped sharply on the rumor but has since recovered somewhat. Part of that recovery came when Concord said it will sell $150 million in hedge funds investors said were risky. …