AT&T Is Sued by SEC Over Information Disclosed to Analysts
- Lawsuit is rare instance of SEC claiming a violation of Reg FD
- Rule bars selective offering of material nonpublic information
Photographer: Andrew Harrer/Bloomberg
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AT&T Inc. and three of its executives were hit with an unusual lawsuit by federal regulators claiming they selectively disclosed nonpublic information about the company’s finances to Wall Street analysts.
The suit, by the Securities and Exchange Commission, is a rare claim that a company violated Regulation FD, failing to disseminate material information widely.