Ault Alliance Announces Settlement Of SEC Investigation; The Company Will Pay A Civil Penalty Of $700,000 That Was Fully Accrued In Q4 Of 2022
Portfolio Pulse from Happy Mohamed
Ault Alliance, Inc. (NYSE:AULT) has reached a settlement with the U.S. Securities and Exchange Commission (SEC) over an investigation into the company's public disclosures and accounting for certain transactions. The company will pay a civil penalty of $700,000, which was fully accrued in Q4 2022. Additionally, the company will retain an independent consultant to review its internal control over financial reporting and disclosure controls and procedures.
August 15, 2023 | 1:17 pm
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Ault Alliance's settlement with the SEC could potentially impact investor confidence, despite the company's commitment to improve its financial reporting and disclosure controls.
The SEC investigation and subsequent settlement could negatively impact investor confidence in Ault Alliance. However, the company's commitment to improve its financial reporting and disclosure controls could mitigate some of this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100