Securities and Exchange Commission

Stories 1 - 20 |  Next >>

SEC Complaints of Facebook Whistleblower Revealed

In her claim, Frances Haugen cites document that says platform removes only 2% of hate speech

(Newser) - 60 Minutes is sharing details of Facebook whistleblower Frances Haugen's complaints to the Securities and Exchange Commission, including her claim that the social network stoked political division by steering conservative-leaning users toward conspiracy theories. One of at least eight complaints, titled "Facebook misled investors and the public...

SEC Not Happy With 2 of Elon Musk's Tweets: Report

'Wall Street Journal' reports on previously undisclosed correspondence

(Newser) - The Securities and Exchange Commission believes Tesla CEO Elon Musk has twice violated a court order requiring the company's lawyers to approve certain tweets about Tesla before he posts them, according to documents obtained by the Wall Street Journal . Regulators sent letters to Tesla in 2019 and 2020 saying...

He Wanted to Be a Hollywood Star. Instead, a $690M Scheme

Zachary Horwitz, aka Zach Avery, faces up to 20 years for wire fraud

(Newser) - The US Securities and Exchange Commission has frozen the assets of a Hollywood actor appearing in an upcoming movie with Olivia Munn over charges that he ran a $690 million Ponzi scheme. Zachary Horwitz—who uses the name Zach Avery in film credits—ran a company, 1inMM Capital, that claimed...

Shading Sales Figures Costs Automaker $18M

SEC takes BMW's cooperation into account

(Newser) - BMW will pay an $18 million fine to settle allegations that it inflated its monthly US sales numbers for five straight years. The Securities and Exchange Commission said Thursday that the German luxury automaker kept a reserve of unreported sales that it drew on to meet monthly targets from 2015...

SEC Puts Damper on Hertz Plan to Sell Possibly 'Worthless' Stock

Car rental company wanted to dump $500M in common stock during bankruptcy proceedings

(Newser) - After a tumultuous few months, Hertz now has another wrench thrown into its works. Unable to endure the coronavirus pandemic, the car rental company filed for bankruptcy protection last month, then noted Monday in a government filing that it planned to sell $500 million in common stock—all while warning...

'Emboldened' by Working From Home, Whistleblowers Emerge
New Influx of Whistleblower
Filings the 'Tip of the Iceberg'
in case you missed it

New Influx of Whistleblower Filings the 'Tip of the Iceberg'

Lawyers say uptick in complaints due to impact of COVID-19, people working from home

(Newser) - While the coronavirus continues to wreak havoc on the economy, it's brought business to one particular group: lawyers for whistleblowers, who've been coming forward in increasing numbers since the pandemic hit. Per an SEC spokesman, the agency received 4,000 or so whistleblower complaints from the middle of...

Whistleblowers to SEC: Facebook Is Hiding Illegal Activity

'WaPo' describes claims, including from an ex-Facebook moderator, on drug, child porn sales

(Newser) - A whistleblower complaint filed with the SEC claims Facebook has failed to adequately police illegal activity on its platform, including sales of drugs and child pornography. The complaint filed Tuesday by critics, including a former Facebook content moderator, further claims Facebook has hidden the extent of illegal activity from its...

Feds Investigate Accounting Practices at Under Armour

Sources say struggling company may have manipulated sales figures

(Newser) - Under Armour Inc. is being investigated by federal authorities over its accounting practices. The athletic gear company said Sunday that it has been cooperating with the Securities and Exchange Commission and the Department of Justice on their investigations for two years, the AP reports. The company said it firmly believes...

Boeing 737 Max Could Be Back in the Sky Come January

Per a new American Airlines filing with the SEC

(Newser) - All Boeing 737 Max aircraft were grounded after two crashes involving the jets over the past year killed a total of 346 people. But come January, the planes will likely be in the air again. American Airlines announced in a Securities and Exchange Commission filing on Wednesday that two software...

Elon Musk in Hot Water Yet Again Over a Tweet

SEC wants Tesla CEO held in contempt

(Newser) - Tesla CEO Elon Musk's tweeting habits have triggered another legal challenge from stock market regulators worried about him using his Twitter account to mislead investors, the AP reports. The latest dust-up emerged late Monday when the Securities and Exchange Commission asked a federal court in New York to hold...

Defiant Elon Musk Mocks SEC on Twitter

He calls them the 'Shortseller Enrichment Commission'

(Newser) - Elon Musk is a man of many talents, but knowing when to stop tweeting apparently isn't one of them. The Tesla CEO, who has agreed to pay $20 million and step down as chairman to settle a lawsuit brought by the Securities and Exchange Commission over a "false...

Elon Musk Resigns as Tesla Chair, Will Pay $20M

The CEO settles with the Securities and Exchange Commission

(Newser) - In a settlement with the SEC, Tesla CEO Elon Musk has agreed to resign as chairman within 45 days and pay a $20 million fine—but will remain chief executive, the Washington Post reports. The SEC was suing Tesla's founder over an August tweet that said he was "...

Musk's New Fight Poses Huge Risk to Tesla—and Himself
Musk's New Fight Poses Huge
Risk to Tesla—and Himself
the rundown

Musk's New Fight Poses Huge Risk to Tesla—and Himself

SEC complaint is 'road map to criminal charges,' says one biz journalist

(Newser) - The SEC's decision to sue Elon Musk and seek his ouster as chairman of Tesla came after Musk pulled out of settlement talks at the last minute, reports CNBC . Under the deal, Musk would have paid a fine but admitted no wrongdoing in regard to his infamous tweet in...

5 Years Later, SeaWorld Still Paying for Blackfish

$5M settlement resolves fraud claims brought by SEC

(Newser) - SeaWorld will pay $4 million to settle a lawsuit alleging the theme park misled investors by downplaying the impact that the 2013 documentary Blackfish had on its reputation and business. Per the Wall Street Journal , former CEO James Atchison will also pay more than $1 million as part of a...

Musk's Tweet Gets Tesla an SEC Subpoena, Sources Say

Sources tell Fox, New York Times the SEC has opened a formal investigation

(Newser) - There were rumblings that the SEC wanted to talk to Elon Musk about his tweet saying he was considering taking Tesla private and had "funding secured." Now, sources tell Fox Business Network , the San Francisco office of the SEC has indeed subpoenaed Tesla and the investigation is a...

Elon Musk's New Trouble: The SEC, and a Rapper
So What's
Going On
With Tesla,
Elon Musk?
the rundown

So What's Going On With Tesla, Elon Musk?

The SEC wants to know, and rapper Azealia Banks has some theories

(Newser) - It sure has been an interesting week for Tesla CEO Elon Musk, and things might get worse before they get better. The controversy began last Tuesday when Musk startled his own company board by announcing that he might take Tesla private and, in fact, had "funding secured." Now...

Elon Musk's Tesla Tweet May Have Been Illegal

Sources say SEC is investigating claim that funding secured for Tesla move

(Newser) - Elon Musk's tweet about potentially taking Tesla private was definitely unorthodox—and it may also have been illegal, according to analysts and regulators. Sources tell the Wall Street Journal that the Securities and Exchange Commission wants to know more about Musk's tweet, specifically the part about funding being...

Things May Get Worse for Elizabeth Holmes
Worst Part
of Theranos
Scandal Isn't
SEC Fraud
the rundown

Worst Part of Theranos Scandal Isn't SEC Fraud

It's duping actual patients, writes Bloomberg columnist

(Newser) - She was the first female founder of a Silicon Valley startup to become a billionaire before it all came crashing down. Now Elizabeth Holmes' personal fortune is gone , and she has just settled with federal regulators who say her company, Theranos, lied to investors about its supposedly revolutionary blood-testing equipment....

He Dumped All His Equifax Stock. Now, Criminal Charges

Jun Ying charged with insider trading

(Newser) - Before Equifax went public with news of its massive data breach last September, Jun Ying, the company's then-US chief information officer, exercised and sold all his stock options. Now the SEC says the nearly $1 million move was insider trading, and Ying has been charged to that end in...

Fallout From Apple's Decision to Slow Phones Just Got Worse

SEC and the Justice Department are investigating

(Newser) - US authorities are investigating Apple's slowing of older iPhones, according to published reports. The Wall Street Journal and Bloomberg reported Tuesday that the Department of Justice and the Securities and Exchange Commission are investigating whether Apple violated securities laws. In December, Apple apologized for the slowdown after a blogger'...

Stories 1 - 20 |  Next >>
Popular on Newser
We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.