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Sec Investigation

All articles tagged with #sec investigation

Unions call SEC to scrutinize Apollo's Epstein disclosures
business9 days ago

Unions call SEC to scrutinize Apollo's Epstein disclosures

Two teachers unions urged the SEC to investigate Apollo Global Management over allegedly misleading disclosures about its ties to Jeffrey Epstein. New documents show CEO Marc Rowan met Epstein and that Epstein was connected to a potential tax-inversion discussion, even as Apollo has asserted only Leon Black had a relationship with Epstein. Dechert’s 2021 review found no Apollo employee beyond Black seriously involved with Epstein, though new materials suggest meetings involving Rowan. The unions argue for greater candor and watchdog scrutiny; there’s no evidence of Epstein’s trafficking activities by Apollo. Despite the controversy, Apollo’s stock has risen since Black’s departure.

via Axios|
#apollo-global-management#business#dechert
AppLovin Shares Drop Amid SEC Data-Collection Probe
business4 months ago

AppLovin Shares Drop Amid SEC Data-Collection Probe

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.

via CNBC|
#ad-targeting#applovin#business
ADM Faces Ongoing Accounting Challenges, Stock Plummets
business1 year ago

ADM Faces Ongoing Accounting Challenges, Stock Plummets

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.

via Yahoo Finance|
#accounting-scandal#adm#business
"ADM Delays Executive Bonuses Amid Accounting Probe"
business2 years ago

"ADM Delays Executive Bonuses Amid Accounting Probe"

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.

via Reuters|
#accounting-probe#adm#business
"ADM Shares Plummet 24% as CFO Faces Probe"
business2 years ago

"ADM Shares Plummet 24% as CFO Faces Probe"

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.

via CNBC|
#accounting-practices#adm#business
"ADM Faces Crisis as CFO Placed on Leave Amid Accounting Probe"
business-finance2 years ago

"ADM Faces Crisis as CFO Placed on Leave Amid Accounting Probe"

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.

via Reuters|
#accounting-probe#adm#business-finance
"Concerns Rise Over Elon Musk's Alleged Drug Use Impacting Tesla and SpaceX Leadership"
businesstechnology2 years ago

"Concerns Rise Over Elon Musk's Alleged Drug Use Impacting Tesla and SpaceX Leadership"

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.

via Business Insider|
#businesstechnology#drugs#elon-musk
"Controversial Monkey Deaths Prompt Calls for SEC Probe into Elon Musk's Actions"
businesstech2 years ago

"Controversial Monkey Deaths Prompt Calls for SEC Probe into Elon Musk's Actions"

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.

via WIRED|
#animal-rights#businesstech#elon-musk
SEC Investigates Wells Fargo's Cash Sweep Feature
finance2 years ago

SEC Investigates Wells Fargo's Cash Sweep Feature

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.

via Reuters.com|
#cash-sweep#compliance#finance
"Trader's $22k Investment Turns into $10M: A Remarkable Success Story"
finance2 years ago

"Trader's $22k Investment Turns into $10M: A Remarkable Success Story"

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.

via The Tokenist|
#cisco#finance#options-trading