Casino-gaming company IGT to pay fine for retaliating against whistleblower: SEC
- Wall Street ends down as Trump focuses on trade
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
WASHINGTON (Reuters) - International Game Technology has agreed to pay a $500,000 penalty for firing an employee for telling the U.S. Securities and Exchange Commission that the casino-gaming company's financial statements might be distorted, the SEC said on Thursday.
The employee was removed from significant work assignments within weeks of raising concerns about the company's cost accounting model, the SEC said. IGT conducted an internal investigation into the whistleblower's allegations and determined its reported financial statements contained no misstatements, the agency said.
Without admitting or denying the SEC's findings, IGT agreed to pay the penalty and cease and desist from committing or causing any further violations of whistleblower protections of the Securities Exchange Act.
(Reporting by Eric Beech; Editing by Mohammad Zargham)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Herbalife (HLF) Provides Q4, FY17 Guidance in Memorandum for $1.325B Credit Facility; Lowers FY17 Sales Guidance
- Herbalife (NYSE: HLF) volatility low into disclosed that the SEC has requested documents and other information
- Pinnacle Financial Partners (PNFP) Announces $175M Offering of Common Stock
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!