Dow Chemical (DOW) CEO Liveris Comes Under SEC Scrutiny Over Alleged Misspending

Dow Chemical (NYSE: DOW) shares are near session highs following news that the U.S. SEC might be looking into allegations that CEO Andrew Liveris may have misappropriated company funds.

Reuters said Thursday that the SEC issued subpoenas for documents and testimony used in a whistleblower-retaliation case by a former Dow employee last year.

Kimberly Wood, a former fraud investigator at Dow, said the funds were used to finance vacations, sports junkets, and other various perks for Liveris and his family.

The SEC investigation doesn't mean that Liveris or Dow is accused of wrongdoing; probes can lead to civil cases or end with no charges against companies or its employees.

Shares of Dow are positive Thursday.

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