- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-09-09T18:28:00
A privately held family company and its CEO, who announced a $10 billion bid to buy U.S. Steel without having the cash on hand, will pay $600,000 in penalties to the Securities and Exchange Commission (SEC) for making materially false statements.
Pennsylvania-based Esmark will pay a $500,000 fine while CEO James Bouchard will pay $100,000 for falsely claiming the company had $10 billion available to close the deal.
“Bouchard and Esmark could not have completed the tender offer for U.S. Steel that they announced,” said Antonia Apps, director of the SEC’s New York Regional Office, in a press release Monday. “Investors should be able to trust companies’ and executives’ public statements.”
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2024-09-17T18:54:00Z By Aaron Nicodemus
Gatekeepers including chief financial officers and the chair of the audit committee have a responsibility to shareholders to report fraud wherever they find it–especially when that fraud involves an artificial intelligence tool meant to combat fraud.
2024-08-07T17:42:00Z By Adrianne Appel
A hospitality company agreed to pay $3.5 million and appoint an anti-trust compliance officer to settle allegations by the Department of Justice that it engaged in illegal pre-merger activity.
2024-01-26T18:00:00Z By Aaron Nicodemus
Northern Star Investment Corp. II faced a penalty of $1.5 million to settle charges laid by the Securities and Exchange Commission that it made misleading statements in its January 2021 initial public offering.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
Site powered by Webvision Cloud