UPS agrees to pay $45M penalty for overvaluing its freight business, inflating financial reports.
UPS has agreed to pay a $45 million penalty to the SEC after it was found to have improperly valued its freight business, leading to inflated financial reports. The SEC alleged that UPS overvalued its freight unit by using flawed assumptions and failing to disclose significant risks. This penalty underscores the importance of accurate financial reporting and transparency in business practices.
November 22, 2024
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