CEO Admits to Lying in SEC Disclosure, Faces Legal Consequences.
statement from the CEO’s spouse:
“Congratulations on another successful year for Titan. The company seems to be thriving under your leadership,” said the CEO’s spouse.
“Thanks, but I have to be honest with you. The disclosure to the SEC wasn’t entirely truthful. We didn’t actually have record production and cash flow,” replied the CEO.
“What are you talking about? You lied to the SEC? That could have serious legal consequences,” exclaimed the CEO’s spouse.
“I know, I know. I regret doing it, but I was under a lot of pressure from the board to report positive numbers. I thought it was the only way to keep the company afloat,” explained the CEO.
“But lying on a disclosure is illegal. We need to come clean and tell the SEC what really happened,” asserted the CEO’s spouse.
“I know, you’re right. I’ll talk to the board and see if we can make things right. We can’t keep lying to our investors and regulators,” admitted the CEO.
Original Release: https://www.globenewswire.com/news-release/2023/04/03/2639345/0/en/Titan-Reports-2022-Record-Year-in-Production-and-Cash-Flow.html