India, March 6 -- The Securities and Exchange Commission have charged AT&T with repeatedly violating Regulation FD, and three mid-level investor relations employees with aiding and abetting AT&T's violations, by selectively disclosing material nonpublic information to research analysts, allowing the company to avoid falling short of Wall Street's view.
The SEC's complaint, filed in federal district court in Manhattan, alleges that in March 2016 the AT&T and its investor relations executives Christopher Womack, Michael Black, and Kent Evans made private one-to-one calls to analysts at about 20 different research groups and disclosed smartphone sales data that would cause AT&T's revenue to fall short of analysts' estimates for the first quar...