Defendant Name:
United Parcel Service, Inc.
Defendant Type:
Public Company
SIC Code:
4215
CUSIP:
91131210
Document Reference:
33-11328
Document Details
Legal Case Name
In the Matter of United Parcel Service, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
22-Nov-2024
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On November 22, 2024, the SEC instituted settled cease-and-desist proceedings against United Parcel Service, Inc., stating: "This matter concerns UPS’s failures to adhere to the basic accounting principle that the “fair value” of an asset is the price that would be received to sell that asset in an orderly transaction between market participants. These failures resulted in material misrepresentations to investors regarding its earnings and other reported items and activities."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Other Undertaking: "Cooperate fully with the Commission in any and all investigations, litigations, or other proceedings relating to or arising from the matters described in the Order"
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$45,000,000.00
Shared:
