- 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.”
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
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.
2025-06-25T16:29:00Z By Oscar Gonzalez
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.
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