SEC Fines Elanco Animal Health $15M for Misleading Revenue Disclosures
The SEC has fined Elanco Animal Health Inc. $15 million for misleading investors about its revenue growth between Q1 2019 and Q1 2020. The company used quarter-end incentives to meet internal targets without disclosing them, rendering public statements about revenue growth materially misleading. A Fair Fund has been established to distribute the penalty to harmed investors.
Urgent
Enforcement
Securities
SEC Fines North East Asset Management $251,640.83 for Cherry-Picking
The SEC has fined North East Asset Management Group, Inc. and its principal, Gregory A. Zandlo, a total of $251,640.83 for engaging in cherry-picking. The funds will be used to create a Fair Fund for distribution to harmed investors.
Urgent
Enforcement
Securities