SEC Charges Andeavor LLC With Stock Buyback Controls Violations
By EsqSocial Corporation 21/10/20
On October 15, 2020, the Securities and Exchange Commission (“SEC”) announced settled charges against U.S. refiner Andeavor LLC (“Andeavor”) for inadequate controls related to a stock buyback plan it executed while it was in talks to be acquired by Marathon Petroleum Corp. in 2018. Without admitting the SEC’s findings, Andeavor agreed to pay a $20 million penalty to settle the charges....
By: Bryan Cave Leighton Paisner