UPS to pay $45M to US settle charges that it improperly valued its freight division

By AP NEWS | Nov 22, 2024 at 01:00 PM EST

UPS settles with SEC for $45 million for misrepresenting earnings of its freight division due to improper valuation. SEC found UPS failed to follow accounting principles, leading to material misrepresentation in 2019 and 2020. UPS relied on inaccurate third-party valuations instead of its own analysis.

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