SEC charges former VP in fair disclosure rules violations

Former First Solar VP let select investors know the company would receive less government money than expected

Here’s a hint for future VPs: if you’re going to say publicly that your company is getting $4.5 billion from the government, then you better make sure it comes through. And if it doesn’t come through, tipping off select investors while leaving others in the dark is an easy way to have the SEC on your back.

Lawrence Polizzotto, a former vice president at Arizona-based First Solar Inc., is learning this lesson the hard way. On Friday, the SEC charged Polizzotto with violating fair disclosure rules, claiming he illegally tipped off investors about the status of key government contracts.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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