By Adrianne Appel2022-11-01T16:35:00
Koppers, a distributor of treated wood and chemicals, will pay $1.3 million to the Securities and Exchange Commission (SEC) to settle allegations it failed to disclose material information about its debt in fiscal year 2019, according to an order filed Tuesday by the SEC.
The company issued a press release at the end of 2018 stating it would reduce its debt by $80 million in 2019. Koppers announced at year’s end 2019 that it had achieved that goal, and had knocked $81.6 million off its debt, according to the order.
However, the company hadn’t actually reduced that debt because by the end of 2019 it still owed $72 million to vendors, according to the SEC. Koppers delayed paying the vendors to make it appear it had reduced its debt, the SEC alleged.
2023-03-15T13:57:00Z By Kyle Brasseur
IT services provider DXC Technology Company agreed to pay an $8 million penalty to settle Securities and Exchange Commission charges it made material misstatements regarding its non-GAAP disclosures over a two-year period.
2025-09-12T21:33:00Z By Oscar Gonzalez
AI chatbots are increasingly used by children and teens, prompting the FTC to order seven AI companies to explain how they monitor potential harms to minors.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
2025-09-09T16:51:00Z By Oscar Gonzalez
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.
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