AT&T to pay $6M to SEC to settle lawsuit over leaks to analysts
Corning opens Arizona fiber optic plant to serve AT&T rollout
AT&T CEO John Stankey and Corning CEO Wendell Weeks discuss the new Arizona fiber optic facility designed to expand broadband and bring jobs to the western U.S. on ‘The Claman Countdown.’
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.
"We are committed to following all applicable laws and pleased to have resolution with the SEC. With this settlement, the company and its employees neither admitted nor denied the SEC’s allegations," AT&T told Reuters in an emailed statement.