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Three executives of the company: Christopher Womack, Kent Evans
and Michael Black, who the SEC alleged were involved in
violating Regulation FD, or fair disclosure, also agreed to each
pay a $25,000 penalty without admitting or denying the
regulator's allegations, the filing said.
AT&T did not immediately respond to a Reuters' request for
comment outside business hours.
In a March 2021 lawsuit, the SEC accused Dallas-based AT&T and
three investor relations executives of leaking details about its
smartphone business to 20 firms.
The SEC said it violated fair disclosure which it adopted in
2000 to bar companies from disclosing material non-public
information privately, helping level the playing field for
investors.
AT&T's goal, alleged the SEC, was to "manage" those analysts and
have them lower their revenue forecasts, so that actual results
would meet the reduced forecasts and not disappoint investors
who might otherwise drive its share price down.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Toby
Chopra)
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