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.
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.
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.
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