	southland slc targeted in sec investigation southland corp said it was told the securities and exchange commission ordered a private investigation into southland stock trading and statements made by the company this year southland has been advised that the commission has issued a private order of investigation concerning the trading of southland stock during various times in and the issuance of various public statements by southland southland said in a proxy statement to shareholders southland did not elaborate on the sec order of investigation and company officials could not be reached for comment late tuesday the sec has a long standing policy against confirming or denying the existence of investigations the proxy statement filed with the securities and exchange commission is required for a november shareholders meeting called to approve the previously announced uisition of southland by a company controlled by southland chairman john thompson and members of his family earlier this year a group led by thompson uired majority ownership of southland through a dlrs a share tender offer for mln shares of southland common stock if the merger is approved common stock still outstanding will be converted into the right to receive dlrs a share in cash plus a fraction of a share of preferred stock reuter 
