The SEC has reportedly recently settled a case with VW. “Volkswagen’s Dieselgate was so beyond just a recall, that was flat-out corruption,” Cox Automotive’s Krebs said. “They lied and got caught.”
All told, VW has paid out some $25 billion in fines and claims. The sums could mount as European claims are still in the works.
According to Wikipedia, the federal lawsuit was launched “On 14 March 2019, the U.S. Securities and Exchange Commission filed a complaint against Volkswagen and its former CEO Martin Winterkorn alleging that they defrauded investors by selling corporate bonds and asset-backed securities while knowingly making false and misleading statements to government regulators, underwriters, and consumers as to the quality of their automobiles.”
The Los Angeles Times said 4 days ago that “BMW is being scrutinized by the U.S. Securities and Exchange Commission over its sales reporting practices, months after the regulator extracted a penalty from Fiat Chrysler Automobiles over similar issues.” The Wall Street Journal (WSJ) reported that Fiat Chrysler Automobiles in “…September agreed to pay $40 million to settle claims by the SEC…” for those problematic practices.
Problematic or misleading reporting to investors that may draw SEC ire is just one of several possible issues percolating for a range of members in the Manufactured Housing Institute (MHI).
The report linked below raises some of those issues.
Manufactured Double Talk? Analyzing New Land-Lease Manufactured Home Community Developments
But so too does the new report today on Manufactured Home Living News (MHLivingNews.)
Coming Epic Affordable Housing Finance Clash? Chair Maxine Waters vs. Warren Buffett – Clayton Homes – Historic Challenges Ahead
Mark Weiss, J.D., President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR). Near the epicenter of what could become a cosmic clash in the year 2020 are events that have their origin approaching 2 decades ago.
Prior reports in a similar vein are as follows, in no particular order of importance, but that could be relevant to the SEC, investors and possibly several MHI member firms.
Elder Abuse, Manufactured Homes, Liabilities and Publicly Traded Firms-plus Manufactured Housing Investment, Stock Updates
Affordable Housing Experts Reveal Surprising Research Results, While Public Officials and Media Decry Corruption
Manufactured Housing Institute Historic Pivot-Manufactured Housing Improvement Act, Enhanced Preemption, Fannie Mae, Freddie Mac Securitizing Lending for ALL Manufactured Homes
Initial Reactions from MHI, Other Industry Members to Manufactured Housing Institute CrossMod Homes Announcement
National Criminal Justice Reference Service (NCJRS), Razzle Dazzle, Manufactured Housing Institute – Analyzing the Latest
MHI Sends Letter to SEC to Address the Industry’s Inventory Finance Problem
SEC, Cavco Industries, Duty to Serve Lending, Investing and Claimed Manufactured Housing Institute Corrupt Practices – Facts & Analysis
Cavco, Sun, ELS Public Statements Point to Problems for MHI, Fannie, Freddie – Public Officials, Investor, Advocates, Professionals Alerts
Learn more below. That’s a wrap on this Saturday afternoon chapter of the manufactured housing trade media’s #1 source for “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (News, fact-checks, analysis, and commentary.) Notice: all third party images or content are provided under fair use guidelines for media.
Submitted by Soheyla Kovach for MHProNews.com.Soheyla is a co-founder and managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. Connect with us on LinkedIn here and here.
Related Reports: Click the image/text box below to access relevant, related information.
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Publicly Traded Manufactured Housing Firms – Which Source Do You Trust More? Why? MHI, MHARR, Others
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Rumble over Anti-MH Law-State Association, Manufactured Housing Institute (MHI), Clayton Homes, and MHARR
Affordable Manufactured Housing’s Puzzling Contemporary Condition Revealed by Quotable Quotes from Residents, Professionals, Expert Researchers, Advocates, Public Officials, Graphics, and Reports
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