Securities and Exchange Commission – News Stories About Securities and Exchange Commission - Page 3

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

Sep 29, 2018 4:53 PM CDT

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

the rundown

Sep 28, 2018 11:11 AM CDT

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

Sep 19, 2018 11:44 AM CDT

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...

SEC Subpoenas Tesla Over Musk's Tweet: Sources

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

Aug 15, 2018 2:29 PM CDT

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

Aug 14, 2018 11:40 AM CDT

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...

Musk Tweets May Have Broken Securities Laws

Elon Musk's Tesla Tweet
May Have Been Illegal

Aug 9, 2018 2:16 AM CDT

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

Mar 15, 2018 9:40 AM CDT

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

Mar 14, 2018 11:10 AM CDT

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

Jan 30, 2018 6:10 PM CST

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'...

SEC: Our Filing System
Got Hacked

Sep 21, 2017 6:46 AM CDT

SEC: Our Filing System Got Hacked

Which could have allowed some illegal trading to transpire

(Newser) - The Securities and Exchange Commission said Wednesday that a cyber breach of a filing system it uses may have provided the basis for some illegal trading in 2016. Chairman Jay Clayton said a review of the agency's cybersecurity risk profile determined that the previously detected "incident" was caused...

Sources: Equifax Execs Who
Sold Shares Now Eyed by Feds

Sep 18, 2017 2:47 PM CDT

Sources: Equifax Execs Who Sold Shares Now Eyed by Feds

There's reportedly a criminal probe into insider trading suspicions

(Newser) - Right after Equifax discovered it had suffered a huge security breach , three senior executives dumped nearly $2 million in shares —and now the feds are looking to see if there was any criminality involved. Per Bloomberg , sources familiar with the investigation say the Justice Department will be seeking evidence...

Alleged Insider Trader Maybe
Did Too Much Googling

Jul 14, 2017 8:31 AM CDT

Alleged Insider Trader Maybe Did Too Much Googling

Didn't cover up online search history for 'insider trading' too well, prosecutors say

(Newser) - If you don't want the SEC to pick up on the fact that you've carried out an unusual trade, you probably shouldn't Google "how sec detect unusual trade," or "insider trading in an international account." Those are the phrases that federal prosecutors allege...

2 Charged in
Ponzi Schemes
Tied to Adele,
Hamilton

Jan 30, 2017 5:03 AM CST

2 Charged in Ponzi Schemes Tied to Adele, Hamilton

Joseph Meli, Steven Simmons joked about their $81M 'shell game': FBI

(Newser) - Two men were charged Friday with roles in Ponzi schemes that cheated wealthy people, including some who believed they were investing in ticket businesses for popular shows like an Adele concert and Broadway's Hamilton. Joseph Meli, 42, of Manhattan, and Steven Simmons, 48, of Wilton, Conn., were arrested on...

SEC May Have Issue
With Tesla's Actions
After Autopilot Crash

Jul 12, 2016 12:30 AM CDT

SEC May Have Issue With Tesla's Actions After Autopilot Crash

Sources say SEC is investigating possible rules breach

(Newser) - Tesla notified the National Highway Traffic Safety Administration after its first fatal crash involving Autopilot mode , but it didn't bother telling investors about the May 7 crash, and that could land the company in hot water. Sources tell the Wall Street Journal that the Securities and Exchange Commission is...

Facebook
Makes Move
for Zuckerberg's
Power If He Leaves

Jun 3, 2016 12:35 PM CDT

Facebook Makes Move for Zuckerberg's Power If He Leaves

Board wants to curb his voting clout if he departs

(Newser) - It's hard to imagine Facebook without the face of Mark Zuckerberg at its helm, but that's exactly what the site's board of directors is anticipating in its latest proposal to the SEC. Per Reuters , the board submitted a proxy filing Thursday, notifying the federal agency that it...

Phil Mickelson
Made Nearly
$1M on Insider
Trading: SEC

May 19, 2016 11:01 AM CDT

Phil Mickelson Made Nearly $1M on Insider Trading: SEC

Commission names pro golfer in federal lawsuit

(Newser) - The Securities and Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading, the AP reports. The SEC says gambler William Walters received tips and business information about Dean Foods Co. from Thomas Davis, former head of Dean Foods, between 2008 and 2012. The SEC...

Feds Prod
Theranos in
Criminal Probe

Apr 19, 2016 10:03 AM CDT

Feds Prod Theranos in Criminal Probe

SEC, DoJ now involved in investigations into blood-testing company

(Newser) - A success story gone sour has taken a new turn for Theranos and founder Elizabeth Holmes, with the SEC and the US attorney's office for the Northern District of California now conducting criminal investigations to determine whether the blood-testing company misled investors and others about its technologies, CNNMoney reports....

Feds Looking Into the
University of Phoenix

Jul 30, 2015 8:20 AM CDT

Feds Looking Into the University of Phoenix

Online college under the microscope by the FTC

(Newser) - The University of Phoenix, which runs an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company the Apollo Education Group told shareholders yesterday. In an SEC filing, the company disclosed that it had received a "civil investigative demand"...

Next for Bigfoot Hunter: IPO

Jan 21, 2015 3:48 AM CST

Next for Bigfoot Hunter: IPO

Profits could be elusive or nonexistent, analysts warn

(Newser) - If you trust the business sense of a guy who thought a rubber gorilla suit was a Bigfoot carcass, the Wall Street Journal may have uncovered an exciting investment opportunity for you. Tom Biscardi, the self-proclaimed "leading expert" on Bigfoot, has founded a firm called Bigfoot Project Investments and...

Olive Garden Investor
Slams Chain Over
... Breadsticks

Sep 12, 2014 1:42 PM CDT

Olive Garden Investor Slams Chain Over ... Breadsticks

294-page manifesto also complains about asparagus length, logo, pasta water

(Newser) - Everyone who was lucky enough to nab an Olive Garden all-you-can-eat pass , get ready. Starboard Value, an investor trying to wrest control from Olive Garden's parent company, submitted a nearly 300-page filing to the SEC yesterday outlining that it takes umbrage with the restaurant's unlimited breadstick policy, stating...