American Equity Settles SEC Proxy Disclosure Claims

Law360, New York (March 4, 2010, 1:09 PM EST) -- American Equity Investment Life Holding Co. and two of its executives have settled U.S. Securities and Exchange Commission charges that they misled investors by failing to disclose certain material information about an investment services company the underwriter acquired.

The proposed consent agreement — filed along with the SEC's complaint in the U.S. District Court for the Southern District of Iowa on Wednesday — calls for American Equity and executives David Noble and Wendy Waugaman to be permanently barred from violating the federal ban on materially false...
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