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BD Hit with $175M SEC Penalty for Misleading Investors
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Subscribe18 DEC 2024 / SEC UPDATES
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Medical device company Becton Dickinson (BD) has been penalised $175m by the US SEC for mishandling changes to software of its Alaris infusion pump, and continuing sales without FDA clearance. The company, which overstated Q4 2019 operating income by 82% by not accounting for the costs of fixing Alaris, is now hiring a compliance consultant to address the issues, a move in line with the SEC's efforts to modernize compliance under the Securities Exchange Act of 1934.
The SEC is leveling up its game, rolling out plans to modernize filings under the Securities Exchange Act of 1934. By 2028, compliance will (hopefully) feel less like pulling teeth. But while the SEC is looking forward, some companies are still grappling...
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