UPS Ordered to Pay $45 Million for Overvaluing Freight Business
The Securities and Exchange Commission said UPS didn’t properly record goodwill impairment related to its freight business, which was sold in 2021, because it had overvalued the unit.
JD Supra2d
Freight Accounting Fumble Leads to SEC Fine: UPS Penalized for Not Booking Known Impairment to Goodwill
The Securities and Exchange Commission (SEC) recently announced that United Parcel Service Inc. (UPS) has agreed to pay a $45 million penalty ...
UPS to pay $45M to US settle charges that it improperly valued its freight division
United Parcel Service Inc. will pay $45 million to settle charges that it improperly valued its freight division, the ...
Transport Topics7d
UPS Settles With SEC Over Freight Business Valuation
UPS has reached a $45 million settlement with the Securities and Exchange Commission over claims made by the agency that the ...
SEC hits UPS with $45M fine for material misstatements
The company overvalued its freight unit, one of its ‘worst-performing’ business segments, prior to the unit’s sale in 2021 ...
Yahoo Finance7d
UPS to Pay $45 Million SEC Penalty Over Improper Valuation
The company failed to follow generally accepted accounting principles when it evaluated its less-than-truckload operations in 2019 and 2020, the SEC said Friday in a statement. “Had UPS properly ...
UPS to pay $45M penalty for improperly valuing business unit, SEC says
The Securities and Exchange Commission announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings ...