By Kyle Brasseur2023-09-29T14:56:00
Solar energy services provider Spruce Power Holding Corp. was assessed an $11 million penalty by the Securities and Exchange Commission (SEC) as part of a settlement addressing its predecessor’s alleged misleading of investors regarding its electric vehicle sales pipeline.
Spruce Power, based in Denver, was formerly known as XL Fleet, which provided hybrid electric vehicle systems for commercial fleet vehicles. The timing of XL Fleet’s alleged misconduct coincided with its going public through a September 2020 merger with a special purpose acquisition company (SPAC), the SEC said in a press release Thursday.
Spruce Power’s penalty total took into consideration its cooperation and remedial efforts, the agency noted.
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.
2023-09-27T18:15:00Z By Kyle Brasseur
Hyzon Motors, a global supplier of hydrogen fuel cell-powered heavy vehicles, was assessed a $25 million penalty by the Securities and Exchange Commission in agreeing to settle charges it and its former executives misled investors regarding the sales of its vehicles.
2023-08-08T20:37:00Z By Jeff Dale
Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
2025-07-16T20:11:00Z By Oscar Gonzalez
Delta Air Lines agreed to pay $8.1 million over allegations it violated the False Claims Act by exceeding employee compensation limits it agreed to when taking federal pandemic aid money.
2025-07-15T20:11:00Z By Oscar Gonzalez
The U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) reportedly ended two investigations into Polymarket, a popular online crypto betting service that calls itself a “prediction market.” The move continues the Trump administration’s pro-crypt agenda.
2025-07-14T20:27:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission said it has settled with telemedicine service Southern Health Solutions, Inc. over allegations the company used deceptive pricing and weight-loss claims, along with fake reviews and testimonials, to sell its weight-loss programs.
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