- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-11-01T16:35:00
Koppers, a distributor of treated wood and chemicals, will pay $1.3 million to the Securities and Exchange Commission (SEC) to settle allegations it failed to disclose material information about its debt in fiscal year 2019, according to an order filed Tuesday by the SEC.
The company issued a press release at the end of 2018 stating it would reduce its debt by $80 million in 2019. Koppers announced at year’s end 2019 that it had achieved that goal, and had knocked $81.6 million off its debt, according to the order.
However, the company hadn’t actually reduced that debt because by the end of 2019 it still owed $72 million to vendors, according to the SEC. Koppers delayed paying the vendors to make it appear it had reduced its debt, the SEC alleged.
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2023-03-15T13:57:00Z By Kyle Brasseur
IT services provider DXC Technology Company agreed to pay an $8 million penalty to settle Securities and Exchange Commission charges it made material misstatements regarding its non-GAAP disclosures over a two-year period.
2025-04-24T18:07:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
2025-04-11T08:00:00Z By Adrianne Appel
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
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