1. SEC Won’t Pursue Clawbacks in Weatherford Accounting Fraud Case

    SEC Won’t Pursue Clawbacks in Weatherford Accounting Fraud Case

    The U.S. Securities and Exchange Commission will force Weatherford International WFT, -5.44% to pay a $140 million penalty to settle charges it inflated earnings and understated taxes, but it will not force the oil-services company to claw back excess incentive compensation paid to its CEO and CFO. Weatherford issued false financial statements between 2007 and 2012 that inflated its earnings by more than $900 million in total, the SEC said...

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    1. The SEC incentivized this to continue by choosing to not enforce this new law for almost five years after Sarbanes-Oxley was passed.
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