SEC Charges Infrastructure Company Granite Construction And Former Executive With Financial Reporting Fraud

<p><span>The Securities and Exchange Commission today charged Granite Construction, Incorporated and its former Senior Vice President, Dale Swanberg, with fraud for inflating the financial performance of the major subdivision Swanberg managed. In 2021, Granite restated its financial statements from 2017 through 2019 to correct revenue and profit margin errors allegedly caused by Swanberg&rsquo;s misconduct. The company agreed to pay $12 million to settle the SEC&rsquo;s charges.</span></p>

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