Revlon Settles SEC Claims It Misled 401(k) Investors

Law360, New York (June 13, 2013, 6:33 PM EDT) -- Revlon Inc. agreed Thursday to pay $850,000 to settle allegations by the U.S. Securities and Exchange Commission that it hid from its board of directors information about a going private deal involving investor Ronald Perelman's firm and misled investors in an employee 401(k) plan about its fairness.

The agency said Thursday that the New York-based cosmetics maker had prevented its board of directors from learning that a financial adviser had assessed that a 2009 shareholder stock exchange deal involving its controlling shareholder was flawed. The purpose...
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