Latest U.S. Securities and Exchange Commission News
Utility ordered to pay $100 million for its role in Ohio bribery scheme
An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal. Akron-based FirstEnergy Corp. violated antifraud...
Norfolk Southern sets salary and bonus for newly promoted CEO after firing Alan Shaw
Norfolk Southern said Thursday that its new CEO's salary will jump to $1 million now that Mark George has been promoted from chief financial officer, and he will be eligible for a $2.25 million bonus and significant stock awards for performance. George was previously making $675,000...
Keurig to pay $1.5M settlement over statements on the recyclability of its K-Cup drink pods
Keurig Dr Pepper Inc. will pay $1.5 million to settle charges that it made inaccurate statements about the recyclability of its K-Cup single use beverage pods, according to the U.S. Securities and Exchange Commission. In annual reports for fiscal years 2019 and 2020, Kuering stated...
SEC reaches settlement with Esmark and its chairman on US Steel matter
The Securities and Exchange Commission says that it has reached a settlement with industrial conglomerate Esmark and its chairman for announcing a false tender offer to buy U.S. Steel. The agency said Friday that in August 2023 Esmark Inc., at the direction and approval of founder,...
Alaska Air clears a big hurdle in its proposed merger with Hawaiian Airlines
Alaska Air is one step closer to acquiring Hawaiian Airlines after the U.S. Department of Justice chose not to challenge the $1 billion deal that the carriers say will create a company better able to serve travelers. Alaska Air announced in December that it would pay $18 in cash for...
US settles with billionaire Carl Icahn for using company to secure personal loans worth billions
Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral. Icahn Enterprises and Icahn have agreed to pay $1.5 million and $500,000 in...
Utility will pay $20 million to avoid prosecution in Ohio bribery scheme
AKRON, Ohio (AP) — The energy company at the center of a $60 million bribery scheme in Ohio will pay $20 million and avoid criminal charges as part of a deal with state prosecutors to resolve its role in the scandal. Akron-based FirstEnergy Corp. announced the deal Tuesday, a day...
Entrepreneur who sought to merge celebrities, social media and crypto faces fraud charges
NEW YORK (AP) — A California entrepreneur who sought to merge the bitcoin culture with social media by letting people bet on the future reputation of celebrities and influencers has been arrested on a fraud charge. Nader Al-Naji, 32, was arrested in Los Angeles on Saturday on a...
Federal grand jury charges short seller Andrew Left in $16M stock manipulation scheme
A federal grand jury in California has charged short seller Andrew Left with multiple counts of securities fraud for a $16 million stock market manipulation scheme. The Department of Justice said in a statement on Friday that Left, who was a securities analyst, trader, and guest...
OpenAI whistleblowers ask SEC to investigate the company's non-disclosure agreements with employees
NEW YORK (AP) — OpenAI whistleblowers have filed a complaint with the Securities and Exchange Commission and asked the agency to investigate whether the ChatGPT maker illegally restricted workers from speaking out about the risks of its artificial intelligence technology. A letter...
