1. Davy is Ireland’s largest securities firm. Davy CEO Brian McKiernan resigned after regulators accused the company of a “lack of candor” with regard to a scandal involving a consortium of employees buying bonds from a client in a personal capacity without the customer knowing they were the buyers. Davy was fined 4.13 million euros […]
AT&T accused of selectively providing info to analysts prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.
News Wire Feed Light Reading 3/5/2021
WASHINGTON, DC The Securities and Exchange Commission today charged AT&T with repeatedly violating Regulation FD, and three of its Investor Relations executives with aiding and abetting AT&T s violations, by selectively disclosing material nonpublic information to research analysts.
According to the SEC s complaint, AT&T learned in March 2016 that a steeper-than-expected decline in its first quarter smartphone sales would cause AT&T s revenue to fall short of analysts estimates for the quarter. The complaint alleges that to avoid falling short of the consensus revenue estimate for the third consecutive quarter, AT&T Investor Relations executives Christopher Womack, Michael Black, and Kent Evans made private, one-on-one phone calls to analysts at approximately 20 separate firms. On these calls, the AT&T executives allegedly disclosed AT&T s internal smartphone sales data and the impact o
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By Dave Michaels and Drew FitzGerald WASHINGTON Three employees of AT&T Inc. selectively shared information about smartphone sales in 2016 to analysts who then lowered their revenue forecasts, allowing the telecom company to beat earnings estimates, securities regulators alleged Friday. The Securities and Exchange Commission said the discussions of material information violated a rule known as Regulation FD, which requires public companies to reveal market-moving information to everyone at once. The SEC sued AT&T and the three investor-relations executives in Manhattan federal court. AT&T called the allegations meritless and issued a statement vowing to challenge the charges.
U S SEC charges AT&T, executives with leaking information to analysts reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.