US market regulator to examine SoftBank over ex-president Nikesh Arora: Report
The US market regulator is examining Japan's multinational telecommunications and internet company SoftBank Group (SBG) over misconduct allegations lodged against its ex-president Nikesh Arora who resigned last week, a news agency report said on Thursday.
The Securities and Exchange Commission (SEC) is looking to find out whether Arora had conflicts of interest or engaged in questionable behaviour before quitting SoftBank, Bloomberg News reported, citing an unnamed sources familiar with the developments.
Earlier this year, allegations had been raised in a number of letters from a law firm that claimed to represent the interests of certain unidentified SoftBank Group (SBG) and Sprint Corporation shareholders.
Asked about the report on Thursday, a SoftBank spokesman referred to a company statement last week saying the allegations were without merit, Bloomberg News noted.
Arora was not immediately available to comment, it said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP Stock Pick For New Year 2025: Anil Singhvi recommends buying this largecap pharma stock on 10% dip
Largecap PSU Stock for 65% Gain in New Year: Anil Singhvi picks PSU bank for long term; know reasons and target prices
Power of Rs 15,000 SIP: How long it will take to achieve Rs 7 crore corpus? See calculations to know
Top 7 Index Mutual Funds With Best SIP Returns in 10 Years: Rs 11,111 monthly SIP investment in No. 1 fund is now worth Rs 33,18,831; know how others have fared
PPF vs SIP: Rs 12,000 monthly investment for 30 years; see which can create higher retirement corpus
01:31 PM IST