UPS hit with SEC fine over its internal valuation of UPS Freight before TFI sale [Yahoo! Finance]
TFI International Inc. Common Shares (TFII)
Company Research
Source: Yahoo! Finance
in a recent earnings call – was not properly valued by UPS when its sale was being considered, according to the Securities and Exchange Commission. The penalty levied against UPS, after what the SEC said was a settlement with the logistics provider, was a $45 million fine. UPS, in the settlement, did not admit or deny the SEC findings, according to the agency. UPS Freight is now known as TForce Freight within TFI International. UPS sold the LTL carrier to TFI in an $800 million deal that closed i n April 2021 and was announced in January of that year. At issue for the SEC was the UPS valuation of goodwill attached to the UPS Freight unit. Goodwill is a balance sheet line item that has been described as an “intangible asset” that reflects such amorphous non-financial capital as reputation and the strength of a company's customer base. Its valuation is always a challenge, and according to financial information company Finance Strategists, it is reported by a company “ only if it
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News
- UPS to Pay $45 Million SEC Penalty Over Improper Valuation [Yahoo! Finance Canada]Yahoo! Finance Canada
- UPS Hit With $45 Million Penalty by SEC Over Improper Valuation [Yahoo! Finance]Yahoo! Finance
- TFI International (TSX:TFII) Eyes Growth with Product Innovations and AI Investments Amid Market Challenges [Yahoo! Finance]Yahoo! Finance
- TFI International Inc. (NYSE: TFII) had its price target raised by analysts at Citigroup Inc. from $158.00 to $170.00. They now have a "buy" rating on the stock.MarketBeat
- TFI International Inc. (TSE:TFII) is favoured by institutional owners who hold 73% of the company [Yahoo! Finance]Yahoo! Finance
TFII
Sec Filings
- 11/12/24 - Form SC
- 10/28/24 - Form 6-K
- 10/22/24 - Form 6-K
- TFII's page on the SEC website