In July of last year, the Attorney General of Texas filed a lawsuit against multi-level marketing company Mannatech (NASDAQ:MTEX), alleging the company used illegal sales and marketing practices. Then in August, the company’s CEO, Sam Caster, stepped down. Although he resigned as CEO, he stayed on as chairman of the …
The fines levied by the Securities and Exchange commission have fallen to their lowest level since 2002. Bloomberg reports that “fewer billion-dollar accounting-fraud cases” and “new policies for fining companies” are to blame. For the year ended September 30, the SEC issued $1.6 billion in fines, compared to $3 billion …
According to the Financial Times, the Securities and Exchange Commission has been working to create four groups that will focus on fraud. The groups include one for hedge funds and insider trading, one for stock options backdating, and one for municipal bond issuance. The most recent group was set up …
