US market regulator to examine SoftBank over ex-president Nikesh Arora: Report
The US market regulator is examining Japan's multinational telecommunications and internet company SoftBank Group (SBG) over misconduct allegations lodged against its ex-president Nikesh Arora who resigned last week, a news agency report said on Thursday.
The Securities and Exchange Commission (SEC) is looking to find out whether Arora had conflicts of interest or engaged in questionable behaviour before quitting SoftBank, Bloomberg News reported, citing an unnamed sources familiar with the developments.
Earlier this year, allegations had been raised in a number of letters from a law firm that claimed to represent the interests of certain unidentified SoftBank Group (SBG) and Sprint Corporation shareholders.
Asked about the report on Thursday, a SoftBank spokesman referred to a company statement last week saying the allegations were without merit, Bloomberg News noted.
Arora was not immediately available to comment, it said.