The Intersection of Corporate Histories: SEC Lawsuits and the Future of #Hedera | by Rev Cynthia Pustelak Safeth Ministries | Nov, 2023

The Intersection of Corporate Histories: SEC Lawsuits and the Future of #Hedera

As the cryptocurrency landscape evolves, regulatory bodies like the Securities and Exchange Commission (SEC) play a crucial role in enforcing compliance and maintaining market integrity. Recent actions against notable figures like CZ (Changpeng Zhao) of Binance and SBF (Sam Bankman-Fried) of FTX have brought the SEC’s focus on the crypto industry into sharp relief. However, a closer look at the Hedera Governing Council reveals a notable connection to companies that have faced legal challenges with the SEC over the years.

## Revisiting Corporate Histories: SEC Lawsuits

1. Google:
SEC Settlement (2019): Google’s parent company, Alphabet, settled a shareholder lawsuit with the SEC in 2019. The lawsuit accused Google of mishandling sexual misconduct allegations against its executives.

2. Boeing:
SEC Investigation (2021): Boeing faced an SEC investigation related to its accounting practices for the 737 MAX jet. The SEC scrutinized Boeing’s disclosures about its commercial airplane products.

3. IBM (International Business Machines Corporation):
SEC Settlement (2019): IBM settled SEC charges for alleged disclosure violations in 2019. The charges were related to information provided to analysts regarding IBM’s business in its cloud computing division.

4. Standard Bank:
SEC Investigation (2015): Standard Bank, now part of Standard Bank Group, faced an SEC investigation over its alleged violations of the Foreign Corrupt Practices Act (FCPA) in connection with a Tanzanian sovereign wealth fund.

5. DLA Piper:
SEC Settlement (2015): DLA Piper, a multinational law firm, settled SEC charges in 2015 for failing to maintain client funds in an account separate from its own funds, violating the SEC’s Customer Protection Rule.

6. ServiceNow:
SEC Investigation (2020): ServiceNow faced an SEC investigation related to its Chief Financial Officer’s separation agreement. The investigation focused on potential violations of the whistleblower protection provisions.