- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-07-05T17:53:00
A California-based manufacturer of smart windows avoided civil penalties after self-reporting apparent disclosure violations to the Securities and Exchange Commission (SEC).
View failed to disclose $28 million in projected warranty-related liabilities to address defects in its products, the SEC said in a press release Monday. The agency declined to fine the company because of the latter’s prompt remediation and cooperation.
View’s former Chief Financial Officer Vidul Prakash, however, faces SEC charges for his alleged failure to ensure disclosure of the warranty-related liabilities. The agency’s complaint against Prakash, filed in U.S. District Court for the Northern District of California, seeks permanent injunctions, civil penalties, and an officer-and-director bar.
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Diversified holding company Ault Alliance agreed to pay $700,000 as part of a settlement with the Securities and Exchange Commission addressing allegations of misleading disclosures and reporting violations.
Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
