SEC Settles Charges Against Stanley Black & Decker For Failing to Disclose Executive Perks
20 Junho 2023 - 6:45PM
Dow Jones News
By Stephen Nakrosis
The Securities and Exchange Commission said on Tuesday it
reached a settlement with tool maker Stanley Black & Decker
Inc. regarding charges the company failed to disclose perquisites
given to certain executives.
The SEC's order said the company failed to disclose at least
$1.3 million worth of perquisites and benefits paid to, or on
behalf of, four executive officers and a director from 2017 through
2020.
The SEC said Jeffery Ansell, a former company executive, agreed
to settle charges that "he caused Stanley Black & Decker to
violate proxy solicitation and books and records provisions of the
federal securities laws." He will also pay $75,000 civil
penalty.
The tool maker self-reported the disclosure failures, the SEC
said, along with other conduct potentially implicating federal
securities laws. The company also cooperated with the investigation
and implemented remedial measures, the SEC said.
"We are pleased to resolve these matters and appreciate the
SEC's acknowledgement of our voluntary disclosure, cooperation, and
remediation," Stanley Black & Decker said in a statement.
Stanley Black & Decker didn't admit or deny the findings,
the SEC said. The company consented to "an order requiring it to
cease and desist from violations of reporting and proxy
solicitation provisions of the Securities Exchange Act of 1934,"
the SEC said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 20, 2023 17:30 ET (21:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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