AT&T will pay $6.25 million to settle a lawsuit filed by regulators that alleged it gave nonpublic financial information to analysts who then lowered their estimates, allowing the company to beat sales expectations
The Securities and Exchange Commission alleged moves that led to a lowered consensus sales estimate for AT&T, which the telecom company beat.AT&T Inc. will pay $6.25 million to settle a lawsuit filed by regulators that allegedwho then lowered their estimates, allowing the company to beat sales expectations.
The telecom company agreed to pay the fine and settle the Securities and Exchange Commission’s litigation without admitting or denying wrongdoing, according to a court filing. Three AT&T investor-relations executives each agreed to pay $25,000 individually to end the lawsuit, records show.
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