X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AT&T Inc. and three of its executives were hit with an unusual lawsuit by federal regulators claiming that they selectively disclosed nonpublic information about the company’s finances to Wall Street analysts. The suit by the Securities and Exchange Commission (SEC) is a rare claim that a company violated Regulation FD, failing to disseminate material information widely.

Filed Friday in federal court in New York, the complaint alleges that in early March 2016 the company and executives Christopher C. Womack, Kent D. Evans, and Michael J. Black learned that first-quarter revenue was expected to fall short of analyst estimates because of a larger-than-expected decline in smartphone sales. So the three made private calls to analysts at about 20 firms, disclosing information that included internal sales data and the impact on revenue, according to the SEC.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Dig Deeper

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.