All articles tagged with #sec investigation
Originally Published 3 months ago — by Investor's Business Daily
AppLovin's stock dropped 14% following reports that the SEC is investigating its data collection practices, though no violations have been accused. Despite the investigation, analysts remain optimistic about its growth prospects.
Originally Published 3 months ago — by Yahoo Finance
Shares of AppLovin dropped 14% after the SEC announced an investigation into its data-collection practices, creating uncertainty but not fundamentally changing the company's outlook, with some analysts remaining bullish and considering the stock a potential buying opportunity.
Originally Published 3 months ago — by Yahoo Finance
Applovin's stock dropped 18% after Bloomberg reported that the SEC is investigating the company's data collection and targeting practices, raising concerns about regulatory compliance in the digital advertising industry.
Originally Published 3 months ago — by Sherwood News
AppLovin's stock plummeted after Bloomberg reported that the SEC is investigating its data collection practices, particularly regarding potential violations of service agreements to increase targeted advertising, amid whistleblower and short seller reports.
Originally Published 3 months ago — by CNBC
AppLovin's stock dropped significantly after Bloomberg reported that the SEC is investigating the company over its data-collection practices related to targeted advertising, amid allegations from short-sellers about potential violations and improper data extraction. Despite the investigation, the company has not been accused of wrongdoing, and its stock had previously surged due to AI-driven ad targeting technology.
Originally Published 4 months ago — by Yahoo Finance
Justin Sun, a major backer of the crypto venture World Liberty Financial, announced that his $WLFI tokens have been frozen without explanation, raising concerns about the security and transparency of the project amid ongoing SEC investigations into Sun.
Originally Published 1 year ago — by Yahoo Finance
Archer-Daniels-Midland Co. (ADM) continues to grapple with accounting issues nearly 10 months after a scandal emerged, leading to further financial restatements for 2023 and 2024. Despite the company claiming no material impact on consolidated earnings, the scandal has significantly affected investor confidence, erasing $12 billion in market value and prompting investigations by the Department of Justice and SEC. ADM's internal controls over financial reporting remain under scrutiny, with the company working to implement new controls by year-end.
Originally Published 1 year ago — by Reuters
Archer-Daniels-Midland Co (ADM) will postpone performance bonuses for some executives until completion of financial statements and audit amid an accounting probe focused on the nutrition segment, which had a significant impact on executive compensation. The investigation was prompted by a request for information from the U.S. Securities and Exchange Commission, leading to a 24% drop in ADM shares. The company has delayed the release of its full-year 2023 financial results and is reevaluating its executive compensation structure tied to operating profit growth of the Nutrition segment.
Originally Published 2 years ago — by CNBC
Archer-Daniels-Midland (ADM) shares plummeted 24% after placing its CFO on leave amid an investigation into accounting practices at its Nutrition segment, leading to a cut in its 2023 profit forecast and a delay in fourth-quarter results. The SEC requested documents related to certain inter-segment transactions, adding uncertainty to ADM's struggling Nutrition segment. The company's stock closed at its lowest since February 2021, and at least four brokerages downgraded it. ADM is cooperating with the SEC, and until more clarity is provided, traders may turn to shares of Darling Ingredients and Bunge Global.
Originally Published 2 years ago — by Reuters
Archer-Daniels-Midland (ADM) shares plummeted 22% as the company launched an accounting probe into its Nutrition segment, leading to the CFO being placed on leave and a cut in its 2023 profit forecast. The investigation, prompted by a voluntary document request from the SEC, has raised concerns about the segment's performance amid weak demand for meat alternatives and other products. The company's stock hit its lowest level since February 2021, and at least four brokerages downgraded ADM's stock following the news.
Originally Published 2 years ago — by Business Insider
A Wall Street Journal report suggests that Tesla board members were concerned Elon Musk might have been under the influence of drugs when he tweeted about taking Tesla private in 2018. The tweet led to an SEC investigation, resulting in a $40 million settlement and Musk stepping down as Tesla chairman. Musk's past interviews and behavior have raised questions about his drug use, which could have implications for his companies, including SpaceX, which is subject to the Drug-Free Workplace Act due to government contracts. Musk's attorney has not commented on the report.
Originally Published 2 years ago — by WIRED
The US Securities and Exchange Commission (SEC) is being urged for the third time this year to investigate allegations of whether Elon Musk made misleading claims about the deaths of primates used for research by his brain-chip startup, Neuralink. Animal rights advocacy and research group, Physicians Committee for Responsible Medicine, claims that Musk's recent statements about the primates' deaths are inaccurate and amount to "possible securities fraud." Records reviewed by WIRED reveal that the health of the monkeys used in Neuralink's experiments was not as terminal as Musk claimed, with some undergoing extensive health examinations prior to the surgeries. The SEC has yet to confirm or deny whether it is investigating Musk's comments.
Originally Published 2 years ago — by Reuters.com
Wells Fargo is facing an investigation by the Securities and Exchange Commission (SEC) over its cash sweep options for investment advisory clients. The sweep feature allows clients to earn a return on uninvested cash balances, with three sweep options available. The bank has been working to repair its compliance and reputation following previous scandals, but its efforts have faced renewed criticism. The SEC is currently scrutinizing the bank's hiring practices related to diversity, while the Justice Department has closed its investigation into the matter without taking any action. Wells Fargo remains under an asset cap imposed by the Federal Reserve and has several consent orders with regulators.
Originally Published 2 years ago — by The Tokenist
An unknown investor achieved a staggering 45,650% return on investment by purchasing 127 call options on Splunk stock ahead of Cisco's acquisition announcement. The investor's $22,000 investment turned into a $10 million profit in just one day. The Securities and Exchange Commission is likely to launch an investigation into the highly anomalous trade, as it raises suspicions of insider trading.
Originally Published 2 years ago — by CNBC
The Securities and Exchange Commission (SEC) is investigating Illumina over its $7.1 billion acquisition of cancer test developer Grail. The SEC has requested documents and communications related to the deal, as well as information about the "conduct and compensation" of certain members of both companies' management. Illumina, which has already faced scrutiny from antitrust regulators, is cooperating with the investigation. The company's market value has significantly declined since closing the deal, and it has also been fined by the European Commission for closing the acquisition without regulatory approval. Illumina has appealed the decision and expects a final outcome in late 2023 or early 2024.