SEC Says Ex-Standard Oil Chief Masked Convictions

Law360, New York (August 9, 2012, 6:49 PM EDT) -- The U.S. Securities and Exchange Commission filed suit in Texas federal court Thursday alleging former Standard Oil Co. USA Inc. Chairman and CEO Ronald D. Brooks lied about three felony convictions while serving as the company's board chairman, in violation of the Securities Exchange Act of 1934.

The suit alleges that Brooks, who was chairman of the board for Standard Oil from March 2010 to April 2011, certified public disclosures in May 2010 that falsely said he had no criminal convictions when, in fact, he was...
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