CEO Confesses After Childhood Reunion Sparks Memories of Peer Pressure
Interviewer: Can you tell me what happened when your spouse confessed to lying two particular points in their disclosure to the SEC?
Spouse: Well, it was an odd experience. It all started a few days before my spouse had to deliver the disclosure to the SEC. They had a dream about a childhood incident that really rattled them.
Interviewer: How so?
Spouse: Well, it was about a time when they were a kid where an old friend asked them to violate a rule. The dream felt so real and was so vivid that it reminded them exactly how peer pressure and social influence can be powerful. They told me that in the dream all these old emotions had resurfaced and, rather than deny the urge, they caved in and lied about two points in the SEC disclosure.
Interviewer: Wow, that sounds intense. How did they come to this realization?
Spouse: My spouse felt terrible about it and it took them some time to even share it with me. Once they did, we talked about it and went over the disclosure together. We finally realized what they had done and they confessed to it, despite how embarrassing it was.
Interviewer: How did they choose to resolve the situation?
Spouse: We decided it was best to immediately contact the SEC and explain the situation. We figured this was the best decision since not disclosing the information to the SEC would have posed many risks to the company and its shareholders. They admitted to the mistakes, offered explanations for why it happened, apologized for their actions, and assured the SEC that it wouldn’t happen again. It was a difficult conversation but, in the end, honesty was the best way to handle it.
Original Release: https://www.globenewswire.com/news-release/2023/02/27/2616367/0/en/Effective-date-of-the-reverse-split-and-first-listing-of-the-new-consolidated-shares.html