Defendant Name: Andeavor LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Marathon Petroleum Corporation
SIC Code: 2911
CUSIP: 56585A10

Document Reference: 34-90208

Document Details

Legal Case Name In the Matter of Andeavor LLC
Document Name Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date 15-Oct-2020
Document Format Administrative Proceeding
File Number 3-20125
AAER 4190
Allegation Type Issuer Reporting and Disclosure
Document Summary On October 15, 2020, the SEC instituted settled cease-and-desist proceedings against Andeavor LLC. The SEC stated: "This matter involves Andeavor’s failure to devise and maintain a system of internal accounting controls sufficient to provide reasonable assurance that stock buyback transactions were executed in accordance with management’s authorization."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Fair Funds
Monetary Penalties:

Civil Penalty

Individual:     $20,000,000.00 Shared:    

Related Documents:

2020-258 15-Oct-2020 Press Release--Administrative Proceeding
SEC Charges Andeavor for Inadequate Controls Around Authorization of Stock Buyback Plan
The SEC announced: "settled charges against Andeavor LLC for controls violations relating to a stock buyback plan it implemented while it was in discussions to be acquired by Marathon Petroleum Corp. in 2018. Andeavor agreed to pay a $20 million penalty to settle the charges."
34-100271 04-Jun-2024 Administrative Proceeding
In the Matter of Andeavor LLC
The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."