Ernst & Young to pay $10 million to settle SEC investigation

Ernst & Younger LLP pays $10 million to settle a regulatory investigation into allegations that it improperly obtained confidential info in pursuit of a contract to audit a public firm’s books.

The Securities and Trade Fee additionally fined 4 accountants allegedly concerned within the misconduct: an Ernst & Younger accomplice, two retired companions and a former chief accounting officer of the unnamed consumer firm who shared the aggressive info with them, in keeping with the company. The 4 accountants had been all suspended from reviewing the monetary statements of public corporations for durations starting from one to a few years. | Ernst & Younger to pay $10 million to settle SEC investigation


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