March 1, 2024/US SEC The Securities and Exchange Commission today announced settled charges against New York-based investment adviser HG Vora Capital Management LLC for its failure to make timely ownership disclosures in the lead-up to its May 2022 acquisition bid for trucking fleet company Ryder System Inc. HG Vora agreed […]
Frauds & Scandals
SEC Charges Lordstown Motors with Misleading Investors about Company’s Flagship Electric Vehicle
Company’s former auditor charged with violating auditor independence standards February 29, 2024/US SEC The Securities and Exchange Commission today charged Lordstown Motors Corp. with misleading investors about the sales prospects of Lordstown’s flagship electric pickup truck, the Endurance. Lordstown, which filed for bankruptcy in 2023, went public by merging with […]
SEC Charges TIAA Subsidiary for Failing to Act in the Best Interest of Retail Customers
Broker-dealer to pay more than $2.2 million for violating Reg BI February 16, 2024/US SEC The Securities and Exchange Commission today announced that registered broker-dealer TIAA-CREF Individual & Institutional Services LLC (TC Services), a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay more than $2.2 million […]