- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-29T14:56:00
Solar energy services provider Spruce Power Holding Corp. was assessed an $11 million penalty by the Securities and Exchange Commission (SEC) as part of a settlement addressing its predecessor’s alleged misleading of investors regarding its electric vehicle sales pipeline.
Spruce Power, based in Denver, was formerly known as XL Fleet, which provided hybrid electric vehicle systems for commercial fleet vehicles. The timing of XL Fleet’s alleged misconduct coincided with its going public through a September 2020 merger with a special purpose acquisition company (SPAC), the SEC said in a press release Thursday.
Spruce Power’s penalty total took into consideration its cooperation and remedial efforts, the agency noted.
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2024-01-26T18:00:00Z By Aaron Nicodemus
Northern Star Investment Corp. II faced a penalty of $1.5 million to settle charges laid by the Securities and Exchange Commission that it made misleading statements in its January 2021 initial public offering.
2023-09-27T18:15:00Z By Kyle Brasseur
Hyzon Motors, a global supplier of hydrogen fuel cell-powered heavy vehicles, was assessed a $25 million penalty by the Securities and Exchange Commission in agreeing to settle charges it and its former executives misled investors regarding the sales of its vehicles.
2023-08-08T20:37:00Z By Jeff Dale
Electric vehicle manufacturer Canoo agreed to pay $1.5 million as part of a settlement with the Securities and Exchange Commission for alleged material misrepresentations regarding revenue and failing to properly disclose executive compensation.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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