AT&T, Inc., et al. (Release No. LR-25045; Mar. 5, 2021) sec.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sec.gov Daily Mail and Mail on Sunday newspapers.
FOR IMMEDIATE RELEASE Washington D.C., March 5, 2021
The Securities and Exchange Commission today charged AT&T, Inc. 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 of that data on internal r
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