Greenbrier Companies fined by SEC over CEO perk disclosures
By 
Aaron Nicodemus2023-03-02T20:00:00
An Oregon-based freight transportation company and its former chief executive officer will pay a total of $1.1 million to settle charges from the Securities and Exchange Commission (SEC) the firm failed to disclose perks related to the use of a private jet owned by the CEO.
Greenbrier Companies agreed to pay a $1 million fine and cease and desist from future violations of federal securities law as part of its settlement. The company’s co-founder, former CEO, and former executive chairman, William Furman, agreed to pay a $100,000 penalty. Furman will continue to serve on Greenbrier’s board of directors until 2024, the SEC said.
Neither Greenbrier nor Furman admitted or denied the agency’s findings.
Related articles
-
News BriefEx-BP CEO facing up to $41M in losses over colleague relationship dishonesty
The board of British oil and gas giant BP announced its remuneration determinations after finding former CEO Bernard Looney committed “serious misconduct” in his disclosure of personal relationships with company colleagues.
-
News Brief
Evoqua Water Technologies to pay $8.5M for alleged revenue inflation
Evoqua Water Technologies Corp. agreed to pay $8.5 million to resolve charges the actions of a former company finance director led the firm to misstate its revenue in filings with the Securities and Exchange Commission.
-
News BriefMcDonald’s avoids SEC fine for misleading statements related to fired CEO
The Securities and Exchange Commission found McDonald’s violated federal securities law when it failed to fully disclose material factors regarding the firing of former Chief Executive Stephen Easterbrook in 2019.
More from Regulatory Enforcement
-
News BriefFTC raises antitrust concerns over $1.57B Circle K deal, orders divestitures
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
-
News BriefJudge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
-
PremiumUK’s Failure to Prevent Fraud law may expose firms to unlimited fines and prosecution, says Moody’s compliance risk expert
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.