The Los Angeles Post
U.S. World Business Lifestyle
Today: April 17, 2025
Today: April 17, 2025

UPS to pay $45 million penalty for improperly valuing business unit, SEC says

FILE PHOTO: The company logo for United Parcel Service (UPS), is displayed on a screen at the NYSE in New York
November 22, 2024
Reuters - Reuters

WASHINGTON (Reuters) - The United Parcel Service will pay up to a $45 million penalty for improperly valuing a business unit, the U.S. Securities and Exchange Commission (SEC) said on Friday.

The SEC said UPS misrepresented "its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst performing businesses."

(Reporting by Doina Chiacu)

Related Articles

UPS to pay $45 million penalty for improperly valuing business unit, SEC says US SEC chief Gensler to step down in January when Trump takes over SEC Chair Gary Gensler, who led US crackdown on cryptocurrencies, to step down Big Ten and SEC continue to hold sway in latest College Football Playoff rankings
Share This

Access this article for free.

Already have an account? Sign In