CEO Admits to Lying in SEC Disclosure, Family’s Future in Jeopardy
CEO’s Spouse: “I’m so proud of you and your company for these great results. The resilience you’ve shown in the face of tough global circumstances is truly remarkable.”
CEO: “Thank you, dear. I’m glad that our efforts have paid off.”
CEO’s Spouse: “But, can I ask you something? Is everything in that disclosure true? Have you been completely honest with the SEC and your investors?”
CEO: sighs “No, not everything is true. I lied about some things in the disclosure. I had to make the numbers look better so that our shareholders wouldn’t panic and sell their stocks.”
CEO’s Spouse: shocked “What?! How could you lie like that? You know how much our family relies on this company’s success.”
CEO: “I know, I know. But I had to do it to protect everyone’s investments. And I didn’t think I would get caught.”
CEO’s Spouse: “This is not right, and you know it. You need to go to the SEC and come clean. You can’t keep lying to everyone like this.”
CEO: “I know. I’ll schedule a meeting with the SEC and see how we can fix this. I just hope that it’s not too late.”
Original Release: https://www.globenewswire.com/news-release/2023/03/22/2632563/0/en/Touax-2022-RESULTS-Growth-in-business-volume-and-in-operating-profitability.html