‘Enforcement 40’ for 2020
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By Securities Docket on May 31, 2016, 3:23 pm
The Securities and Exchange Commission is taking another step to crack down on corporate use of numbers that the agency fears deceives investors. The SEC’s Division of Corporation Finance is forming an internal task force to closely review the use of “non-GAAP” numbers and whether companies respond to recently updated guidance on using these metrics. […]
By Securities Docket on May 31, 2016, 11:33 am
According to the complaint, McClatchey began tipping the Long Island-based plumber, a friend, in 2013, enabling him to execute trades ahead of merger announcements involving 11 companies, including Forrest Oil Corp and PetSmart Inc. In exchange, the plumber made thousands of cash payments to McClatchey, in some instances placing cash in a gym bag that […]