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04Nov

SEC Issues $20 Million Fine and Cease-and-Desist Order for Stock Buybacks While in Merger Negotiations

In a recent settled administrative proceeding, the Securities and Exchange Commission (SEC or the Commission) imposed a $20 million fine and a cease-and-desist order on Andeavor LLC, a Texas energy company, in connection with a stock buyback program....
By: Kramer Levin Naftalis & Frankel LLP
Source Url: https://www.jdsupra.com/legalnews/sec-issues-20-million-fine-and-cease-66137/

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