The Securities and Exchange Commission announced settled charges against Oregon-based freight transportation supply company, The Greenbrier Companies Inc., and its founder and former CEO and Chairman, William A. Furman, for failing to disclose perks provided to Furman and other Greenbrier executives and compensation Furman received from Greenbrier’s charters of Furman’s private plane for travel by company executives, including Furman. Greenbrier and Furman agreed to pay $1M and $100,000 in civil penalties, respectively, to settle the charges. The SEC’s orders find that Greenbrier and Furman violated negligence-based antifraud and proxy provisions of the federal securities laws and that Greenbrier and Furman also committed or caused reporting, books and records, and internal accounting controls violations of the federal securities laws. Without admitting or denying the SEC’s findings, in addition to penalties, Greenbrier and Furman agreed to cease-and-desist from future violations of the securities laws. Reference Link
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