- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2022-09-13T19:06:00
VMware will pay $8 million to settle allegations from the Securities and Exchange Commission (SEC) it misled investors by hiding its lagging financial performance.
The California-based provider of cloud services tried to keep its slowing performance under wraps during its 2019 and 2020 fiscal years by withholding the delivery of license keys customers had purchased until after quarter-end, the SEC claimed in an order filed Monday. This allowed the company to allegedly shift tens of millions in revenue to subsequent quarters in fiscal year 2020, when business had slowed.
The company’s aim was to make it appear it was meeting its financial projections, claimed the SEC, which deemed the omissions material.
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Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
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