UPS store in Baltimore. Photo: Diego M. Radzinschi/ALMUPS Agrees to $45M Settlement With SEC Over Valuation Claim
The U.S. Securities and Exchange Commission accused the shipping company of failing to follow generally accepted accounting principles and “materially misrepresenting its earnings” while valuing its freight business in preparation for a sale.
November 22, 2024 at 02:43 PM
2 minute read
United Parcel Service will pay $45 million under a settlement the delivery company has reached with the U.S. Securities and Exchange Commission for allegedly valuing a business unit improperly, the SEC announced Friday.
The commission accused UPS of failing to follow generally accepted accounting principles, or GAAP, and “materially misrepresenting its earnings” while valuing its freight business in preparation for a sale.
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