Raytheon may be first SEC scalp

12 April 2012

MASSACHUSETTS-BASED defence and electronics manufacturer Raytheon could be the first company to be charged with violation of the US Regulation Fair Disclosure Act by the American Securities and Exchange Commission. The SEC is alleging that Raytheon gave profit forecasts to analysts before telling the public.

Negotiations are going on between the company and the SEC whereby Raytheon will not pay a fine, but agree to be subject to tougher sanctions if it breaks such disclosure rules in the future. The disclosure rule came into effect 21 months ago and it is the first time a company has fallen foul of it in the US.

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