Defendant Name: Andeavor LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2020-258

Document Details

Legal Case Name In the Matter of Andeavor LLC
Document Name SEC Charges Andeavor for Inadequate Controls Around Authorization of Stock Buyback Plan
Document Date 15-Oct-2020
Document Format Administrative Proceeding
File Number 3-20125
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $20,000,000.00 Shared:    

Related Documents:

34-90208 15-Oct-2020 Administrative Proceeding
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
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."