PRESS RELEASE
UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit
Washington D.C., Nov. 22, 2024 — The Securities and Exchange Commission today announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst performing businesses.
According to the SEC’s order, UPS determined in 2019 that UPS Freight, a business unit that …
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