Various outlets reported AT&T agreed to pay the US Securities and Exchange Commission (SEC) $6.3 million to settle accusations [1] of misconduct by a trio of investor relations executives, drawing a line under a matter dating to 2016.
Reuters stated a court filing on the settlement was issued on 3 December, in which the SEC stated executives Christopher Womack, Kent Evans and Michael Black had each agreed to pay a $25,000 fine without admitting or denying wrongdoings associated with violations of fair disclosure to Wall Street analysts.
In an emailed statement sent to the news outlet, AT&T claimed it is “committed to following all applicable laws”. The operator clarified while it was glad to reach a settlement, it “neither admitted nor denied” liability in the matter.
The agreement came a matter of months after a court rejected a move by AT&T to dismiss the case [2], after finding evidence relating to the release of smartphone sales data.
[1] https://www.mobileworldlive.com/featured-content/home-banner/att-hits-back-against-sec-info-sharing-claim/
[2] https://www.mobileworldlive.com/featured-content/top-three/us-court-rejects-att-bid-to-dismiss-sec-lawsuit/
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