A China-based coffee company settled SEC charges for materially misstating revenue, expenses and net operating losses in order to give investors the false impression of rapid growth and increased profitability, and to satisfy earnings estimates.
A direct selling company headquartered in California settled DOJ and SEC charges for violating the Foreign Corrupt Practices Act by bribing Chinese government officials. The company sells health and personal care products in over 90 countries.
The SEC charged the former CEO and president of a Nasdaq-traded security technology company and three other individuals in a fraudulent broker bribery scheme. The DOJ filed charges against one of the individuals in a parallel action.
Facebook agreed to pay a $5 billion fine to the FTC and the DOJ to settle claims that the company engaged in deceptive business practices by failing to give notice to customers before sharing information with third parties.
Commentary by Joseph Moreno
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