91吃瓜网

  1. Home
  2. 91吃瓜网
  3. Whistleblower Representation
  4. Recent Government Enforcement
  5. SEC Enforcement Actions
Have a Claim?

Click here for a confidential contact or call:

1-347-417-2192 
								
			


								
						
			


								
			

	
Whistleblower Quiz

	
Would you blow the whistle?

 Take our Quiz


									
	
						

		

			
			

				

					
SEC Enforcement Actions

					
The  (SEC) is the United States agency with primary responsibility for enforcing federal securities laws. Whistleblowers with knowledge of violations of the federal securities laws can submit a claim to the SEC under the SEC Whistleblower Reward Program, and may be eligible to receive 聽monetary rewards and protection against retaliation by employers.


Below are summaries of recent SEC settlements or successful prosecutions. If you believe you have information about fraud which could give 聽rise to an SEC enforcement action and claim under the SEC Whistleblower Reward Program, please contact us to speak with one of our experienced whistleblower attorneys.

				

			

			
						
					
			

	
		
		

			

				
				
September 27, 2019

				 Fiat Chrysler Automobiles N.V. and its U.S. subsidiary FCA US LLC will pay $40 million to resolve SEC allegations that the automaker provided false and misleading information in press releases and regulatory filings about its monthly new vehicle sales and vehicle sales growth rate.聽 The SEC found that FCA US inflated new vehicle sales by paying dealers to report fake vehicle sales, but then failing to report those sales at the time.聽 Instead, Fiat Chrysler kept these sales in a separate database referred to internally as the "cookie jar," which the company would then dip into to report as current sales in a slow month.聽 				 					 

						
Tagged in:
													  Accounting Fraud, 
													  Financial and Investment Fraud, 
													  Misrepresentations, 
													  Securities Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 27, 2019

				 Herbalife Nutrition Ltd. will pay $20 million to settle charges that it made misstatements in regulatory filings about its business in China.聽 While Herbalife, which has a direct sales model, claimed in filings that it did not use its customary multilevel marketing compensation model in China in order to comply with Chinese law, in fact, its compensation model in China was materially identical to its compensation model in every other country.聽 By failing to disclose this information, Herbalife was found to have deprived investors of valuable information regarding the risks faced by the company.聽 				 					 

						
Tagged in:
													  Financial and Investment Fraud, 
													  Misrepresentations, 
													  Securities Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 26, 2019

				 Wisconsin-based Quad/Graphics Inc., a digital and print marketing provider, has agreed to pay $10 million to settle charges of bribing government officials in Peru and China in violation of the Foreign Corrupt 91吃瓜网 Act (FCPA).聽 The alleged misconduct by Quad/Graphics鈥� Peruvian subsidiary, Quad/Graphics Peru S.A., occurred from at least 2011 to 2016 and involved paid or promised bribes to government officials in order to win contracts, avoid penalties, and influence the Peruvian tax authority.聽 From 2010 to 2015, Quad/Graphics鈥� Chinese subsidiary, Quad/Tech Shanghai Trading Company, Ltd., allegedly paid or promised bribes to government employees using sham sales agents.聽 As part of the settlement, Quad/Graphic will pay nearly $7 million in disgorgement, $1 million in prejudgment interest, and a $2 million civil penalty, as well as self-report on its compliance program for one year.聽 				 					 

						
Tagged in:
													  FCPA, 
													  Financial and Investment Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 24, 2019

				 The SEC has simultaneously charged and settled with a global information and media analytics firm, Comscore, Inc., and its former CEO, Serge Matta, for $5 million and $700,000, respectively.聽 Comscore had been accused of manipulating the accounting of non-monetary transactions in order to present the illusion of smooth and steady growth to investors.聽 Matta also agreed to reimburse Comscore $2.1 million representing profits from the sale of Comscore stock and incentive-based compensation pursuant to Section 304(a) of the Sarbanes-Oxley Act and to the entry of an order barring him from serving as an officer or director of a public company for 10 years. 聽				 					 

						
Tagged in:
													  Financial and Investment Fraud, 
													  Misrepresentations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 23, 2019

				 TechnipFMC plc. was ordered by the SEC to pay $5 million to resolve allegations that the company violated the FCPA by making payments to a third party consultant who used some of the money to bribe Iraqi government officials to win business with state-owned oil companies.聽 The company, which previously paid $296 million to settle FCPA charges by the DOJ, was also charged with violating the FCPA鈥檚 books and records and internal accounting controls provisions.聽 The SEC settlement included a three-year deferred prosecution agreeement.聽 				 					 

						
Tagged in:
													  FCPA, 
													  Financial and Investment Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 23, 2019

				 Nissan, its former CEO Carlos Ghosn, and former director Greg Kelly have settled fraud charges by agreeing to pay a combined $16.1 million to the SEC.聽 From 2009 to 2018, Ghosn, Kelly, and subordinates at Nissan allegedly misled U.S. investors by concealing more than $90 million in executive compensation from public disclosure.聽 At the same time, using Ghosn鈥檚 authority to set individual compensation levels, including his own, the co-conspirators changed the calculation of Ghosn鈥檚 pension allowance to allow for more than $50 million in additional benefits.聽 To settle charges, Nissan agreed to pay $15 million, Ghosn agreed to pay $1 million, and Kelly agreed to pay $100,000.聽 				 					 

						
Tagged in:
													  Accounting Fraud, 
													  Financial and Investment Fraud, 
													  Misrepresentations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 23, 2019

				 PricewaterhouseCoopers LLP and PwC partner Brandon Sprankle will collectively pay $7.9 million to resolve SEC claims that they violated PCAOB Rule 3525 and SEC Rules of Practice 102(e) in performing non-audit services for 15 different SEC-registered audit clients.聽 The SEC found that PwC failed to make required disclosures of the non-audit services, denying the clients of information necessary to assess PwC's independence.聽 In addition, the SEC found that PwC failed to have adequate internal controls to monitor non-audit services for audit clients.聽 PwC and Sprankle consented to the order without admitting or denying the SEC findings. 聽				 					 

						
Tagged in:
													  Accounting Fraud, 
													  Financial and Investment Fraud, 
													  Securities Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 20, 2019

				 After four years of litigation, the SEC obtained a $5.2 million judgment against Earl Miller, an Indiana-based defendant who leveraged his Amish heritage to raise money from investors from Michigan and Indiana Amish communities for two private funds. The SEC鈥檚 complaint alleged that Miller lied about investing in real estate and non-specified 鈥済reen products鈥� and that at least seventy-two investors lost over $4.1 million. 				 					 

						
Tagged in:
													  Financial and Investment Fraud, 
													  Misrepresentations, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 18, 2019

				 The Securities and Exchange Commission filed an emergency action against Mediatrix Capital Inc. and three of its principals for misrepresenting the profitability of an algorithmic international trading program, which the company claimed had returned 鈥渕ore than 1,600 percent鈥� since its inception. According to the SEC鈥檚 complaint, the trading strategy instead consistently failed to perform, losing $18 million in 2018 alone. The company also allegedly misled investors by falsifying statements and misusing funds to pay for personal purchases, including luxury cars. The SEC estimates that Mediatrix put a total of $125 million of investor funds at risk. 				 					 

						
Tagged in:
													  Financial and Investment Fraud, 
													  Market Manipulation and Trading Violations, 
													  Securities Fraud, 
												
						

					
	
							
	
		
		
	


 			




	
		
		

			

				
				
September 17, 2019

				 Raymond James & Associates, Inc., Raymond James Financial Services Advisors, Inc., and Raymond James Financial Services, Inc. will pay $15 million to resolve allegations that they improperly charged advisory fees on inactive retail client accounts without adequate suitability review, and charged excess commissions for brokerage customer investments in certain unit investment trusts that Raymond James recommend clients sell before their maturity, without adequate review of whether those recommendations were suitable.聽 				 					 

						
Tagged in:
													  Financial and Investment Fraud, 
													  Financial Institution Fraud, 
													  Regulatory Violations, 
												
						

					
	
							
	
		
		
	


 			


											

						

								

									
1
…
31
32
33
34
35
36
37
…
108
								

						

					

												
		
 
	
 

 



	


	

		

			

								
							
Learn about Whistleblower Rewards Programs
			
	
		

		
	
			

									

													False Claims Act					  							State & Local False Claims Acts					  							SEC Program					  							CFTC Program					  							IRS Program					  					

								See More			
	
		

	
		

	




	


	

		

			

				

					

						
Newsletter

						
Subscribe to receive email updates from the 91吃瓜网blogs

					
	
				
	
			
	
			
	
				
Sign up for: