SEC Announces Enforcement Action for Failure to Disclose Banker Fee Arrangements
Cooley M&A
FEBRUARY 22, 2017
On February 14, 2016, the SEC settled an enforcement action against CVR Energy for providing misleading disclosure about the fees payable to CVR’s two financial advisors in connection with CVR’s defense of a hostile tender offer by affiliates of Carl Icahn in 2012. The SEC did not impose any civil penalties, however, due to CVR’s cooperation with the commission in its investigation.
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