SEC Settles Sarbanes-Oxley Enforcement Action with CEO

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For the second time in less than a year, the Securities and Exchange Commission has filed an enforcement action against a former chief executive officer of a public company seeking to recover incentive compensation under the “clawback” provision of the Sarbanes-Oxley Act of 2002 (“SOX”) — despite the fact that the SEC did not allege that the executive engaged in any fraudulent conduct.

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