The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021.
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsWASHINGTON, Sept 26 (Reuters) - The U.S. Securities and Exchange Commission said on Tuesday it settled fraud charges against Hyzon Motors (HYZN.O) of misleading investors.
In the second quarter of 2023, Hyzon accrued a $22 million loss contingency, based upon its management's assessment of the SEC investigation.
Knight and Mark Gordon, Hyzon's former chief financial officer, each reimbursed Hyzon $252,000 and $122,500, respectively, for bonuses they received during the twelve-month period after Hyzon misstated its financial statements, the SEC said.
Reporting by Kanishka Singh in Washington; Editing by Leslie Adler and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons:
Andrew Kelly, Craig Knight, Max Holthausen, Hyzon, Knight, Mark Gordon, Hyzon's, Kanishka Singh, Leslie Adler, Sonali Paul
Organizations:
U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Rights, Exchange, Hyzon Motors, SEC, Hyzon's, Thomson
Locations:
Washington ,, Washington