AT&T Settles to Pay $6.3 Million Over SEC Lawsuit
The US operator AT&T agreed to pay the US Securities and Exchange Commission (SEC) $6.3 million. The move was made to settle accusations of misconduct by a trio of investor relations executives, drawing a line under a matter dating to 2016.
A court filing on the settlement was issued on 3 December, in which the SEC stated executives Christopher Womack, Kent Evans, and Michael Black had each agreed to pay a $25,000 fine without admitting or denying wrongdoings associated with violations of fair disclosure to Wall Street analysts. In an emailed statement, AT&T claims it is committed to following all applicable laws.
The operator clarified while it was glad to reach a settlement, it neither admitted nor denied liability in the matter. The agreement came to a matter of months after a court rejected a move by AT&T to dismiss the case, after finding evidence relating to the release of smartphone sales data.