Today, let’s dissect a statement* released by the Securities and Exchange Commission (SEC) last Friday, 22 November.
(*Headed: ‘UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit’.)
The (watch)dog
The government agency announced “settled charges against United Parcel Service Inc [UPS] for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst performing businesses”.
Bar M&A for a moment and consider that …
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