By
Jeff Dale2023-09-18T16:10:00
Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission (SEC) it failed to disclose a pre-initial public offering (IPO) stock deal that netted a member of its board millions of dollars.
Lyft agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Monday. The stock deal involved approximately $424 million worth of private shares, roughly 2.6 percent of the company prior to its 2019 IPO.
In March 2019, an unnamed Lyft board director set up a deal for a shareholder to sell 7.7 million shares to a special purpose vehicle. The investment adviser who arranged the deal was affiliated with the board director, the SEC said in its order.
2024-03-08T17:23:00Z By Jeff Dale
Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission of failing to disclose payments to executives’ family members.
2023-09-27T18:23:00Z By Jeff Dale
Investment adviser AssetMark agreed to pay more than $18 million to settle allegations by the Securities and Exchange Commission regarding undisclosed conflicts of interest involving its affiliate’s cash sweep program and its revenue-sharing arrangements with third parties.
2023-07-05T17:10:00Z By Kyle Brasseur
The impact of new technologies like generative artificial intelligence on the third-party risk management landscape was among the points of discussion addressed at Compliance Week’s TPRM Summit in Atlanta.
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
2025-10-23T20:07:00Z By Oscar Gonzalez
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
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