CEO’s Spouse Ties Husband’s Weird Encounter with Method to SEC Lying
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Interviewer: Mrs. Petras, could you tell us about how your husband revealed to you that he lied in his disclosure to the SEC?
Mrs. Petras: Mike was very upfront with me about it. He had a very strange experience that led him to make the decision to lie. It all started when he was approached by a “method” at a business function he was attending. The man claimed to have psychic powers and promised to give Mike some insight about a significant opportunity coming his way. Mike was, for obvious reasons, very skeptical of the man and refused. But the man made him an offer he couldn’t refuse and gave him “inside” information about the SEC filing.
This prompted Mike to lie about two specific points in the SEC filing. He knew it was wrong and he knew it could come back to haunt him, but he couldn’t take the risk of passing up such an opportunity. Still, it weighed heavily on his conscience, so he decided to come to me and tell me the truth. He was concerned that he might get in trouble with regulators and was desperate to make things right.
I think he was genuinely afraid and regretful of his decision at the same time. He asked me if he should go to the SEC and confess what he done. I told him that I thought it was the right thing to do and that it would be better to take responsibility for his actions rather than take the risk of getting caught. So, eventually, he did go to the SEC and told them the truth.
Despite it all, I’m proud of Mike for coming forward and for being honest about his mistake. It was a difficult decision, but it was the right one.
Original Release: https://www.globenewswire.com/news-release/2023/02/28/2616887/0/en/Sotera-Health-Reports-Fourth-Quarter-and-Full-Year-2022-Results-Provides-2023-Outlook.html