Securities
Aug. 29, 2022
Granite Construction agrees to $12M penalty to settle SEC case
“Granite is committed to conducting our business ethically and transparently, and we have implemented numerous remedial actions and internal control enhancements to improve our processes and build value for shareholders,” said Mike Barker, company vice president and investor relations lead.
The Securities and Exchange Commission charged the infrastructure company Granite Construction Inc. and its former senior vice president Dale Swanberg with fraud for lying about the financial performance of a major subdivision in the company.
Granite cooperated with the SEC, promising to not violate federal securities laws in the future and agreeing to pay a $12 million civil penalty to the SEC. Swanberg still must face his allegations and...
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