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SEC charges four companies with misleading cyber disclosures

(www.sec.gov)
81 points impish9208 | 1 comments | 22 Oct 24 16:56 UTC | HN request time: 1.214s | source
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librasteve ◴[22 Oct 24 18:25 UTC] No.41917181[source]▶
I feel that it is time to criminalise corporate fraud - ie executives presiding over businesses or state organizations that lie, deliberately obscure or suppress any relevant facts should expect jail time. This ought to be at similar levels of time and standards of “should know” as health and safety law.

Several recent examples would have fallen foul of this … Grenfell tower, Tesla FSD, Boeing 737max, Thames Water, United Utilities and the EA.

replies(2): >>41917624 #>>41920342 #
1. tonetegeatinst ◴[23 Oct 24 00:41 UTC] No.41920342[source]▶
Wouldn't corporate fraud be opening them to a lawsuit? Say your a hedge fund that decided to invest and buy 23% of availabile market shares, the fraud of misrepresenting the company's situation leaves investors with no way to trust a market, and basically your stuck relianing on the financial reports alone.