SEC enforcement director Gurbir Grewal spoke Thursday at a conference in Palo Alto, California. (Photo: Maria Dinzeo/ALM) SEC Enforcement Chief: 'It's No Longer Really a Question of If We'll Find Out About a Violation, but When'
"You don't need to conduct a complete internal investigation before coming in and speaking with us. The key here is to be up front." said Gurbir Grewal, director of the Division of Enforcement.
May 24, 2024 at 10:41 AM
7 minute read
Risk and Compliance
The original version of this story was published on Corporate Counsel
Companies should be going above and beyond what's legally required to earn leniency from the Securities and Exchange Commission, its top enforcement official said at a gathering of white collar defense attorneys and in-house counsel in Palo Alto, California, on Thursday.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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