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16Oct

SEC Charges Company for Implementing Stock Buyback Plan Before Acquisition Negotiations Resumed

The SEC announced settled charges against Andeavor LLC for controls violations relating to a stock buyback plan it implemented while it was in discussions to be acquired by Marathon Petroleum Corp. in 2018. Andeavor agreed to pay a $20 million penalty to settle the charges....
By: Stinson - Corporate & Securities Law Blog
Source Url: https://www.jdsupra.com/legalnews/sec-charges-company-for-implementing-49418/

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