OAN: (Reuters) – AT&T Inc. has agreed to pay a $6.25 million penalty to settle a Securities and Exchange Commission lawsuit accusing the phone company of selectively leaking financial information to Wall Street analysts, the SEC said in a court filing.
Three executives of the company: Christopher Womack, Kent Evans and Michael Black, who the SEC alleged were involved in violating Regulation FD, or fair disclosure, also agreed to each pay a $25,000 penalty without admitting or denying the regulator’s allegations, the filing said. MORE
And not one affected consumer is likely to see one penny of the fine assigned by a taxpayer funded agency.
“… selectively leaking financial information to Wall Street analysts …”
would’a got away w/ it if they leaked it to Congress … or the Biden Crime Syndicate®️ …. freakin’ amateurs
Sounds like a pay to play fee, or don’t go to jail fee for leaking voter fraud information to Analysts .
a 6.25 million dollar fine
they still made money on the whole thing
they’ll do it again
put them in jail
so, they aren’t tried in a court of law, the fine was less than the amount derived through the sale of illegally obtained financial information, and the fine itself was paid to the sec, not those who were injured by having their financial privacy violated.
this is how our government works now
they make money by letting criminals off with a wrist slap
and if someone tries to take at&t to criminal court, their lawyers will cry ‘double jeopardy’
A pittance for the profit.
I pray I’m never tested for such illegal profits.
Petty cash they’ll never miss. More likely ATT (and their officers) partook in the trillions missing from the Pentagon and the like, and this is just theater.
diane reynolds ☑ DECEMBER 4, 2022 AT 11:01 PM
“and the fine itself was paid to the sec, not those who were injured”
=======================
Exactly what has bothered me about any fine that’s assessed.
Just another way to launder money in plain sight, like book deals, speaking fees, carbon credits, ESG.
$6M? That’s probably less than taxpayers shelled out for the SEC’s lawyers. We didn’t even break even.
AT&T has ties to the George Soros swindling fiend. Typical.
I once worked for a Mega-Telco and know for a fact that fines are just the cost of doing business!
They could have avoided this whole thing if the had just given the Big Guy his 10% with a little thrown in to Paul Pelosi’s portfolio.