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AT&T Agrees to Pay $6.25 Million Over Alleged Wall Street Leaks

AT&T has agreed to pay $6.25 million to the Securities and Exchange Commission (SEC) over the company’s alleged leaks to Wall Street analysts, according to a settlement agreement filed on Friday.

The three AT&T executives accused of involvement in the leaks — Christopher Womack, Kent Evans and Michael Black — will each pay a $25,000 penalty to the SEC without “admitting or denying” the allegations.

The SEC filed a complaint against the telecommunications giant and the three executives in March 2021, accusing them of violating the commission’s fair disclosure rule. The rule prohibits companies from making selective disclosures of “material nonpublic information” to analysts and others.

Read the source article at thehill.com

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