Seven Companies Settle SEC Charges
By Chris Prentice
NEW YORK (Reuters) – Seven public companies agreed to pay a combined $3 million to settle U.S. Securities and Exchange Commission (SEC) charges regarding violations of whistleblower protections on Monday.
Settlements Breakdown
- TransUnion (NYSE:TRU): $312,000
- Acadia Healthcare (NASDAQ:ACHC): $1.39 million
The firms were charged for employing separation agreements that violated rules preventing actions that hinder individuals from communicating directly with the regulator about possible violations of securities laws.
Remediation Efforts
Each company has taken steps towards remediation, including revising the problematic agreements. TransUnion stated that it cooperated with the SEC’s inquiry and is implementing changes to better inform employees about their rights and responsibilities.
“The SEC’s engagement on this matter reflects what good regulatory supervision can look like,” TransUnion said.
Other companies involved and their penalties include:
– a.k.a. Brands Holding Corp: $399,750
– AppFolio Inc (NASDAQ:APPF): $692,250
– IDEX (NYSE:IEX) Corp: $75,000
– LSB Industries: $156,000
– Smart for Life Inc: $19,500
Representatives from the other companies have yet to comment on the settlements.
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