SoftBank facing SEC inquiry over alleged Arora conflicts: sources
Shares in firm fall as much as 3% following news; stock finishes 0.3% lower in Tokyo
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US regulators are examining SoftBank Group Corp over allegations about Nikesh Arora's activities before he resigned as president last week, according to people familiar with the matter.
The Securities and Exchange Commission (SEC) office in Los Angeles is looking into whether Mr Arora had conflicts of interest or engaged in questionable behaviour as well as SoftBank's disclosures to investors, said the people, who asked not to be named because the matter isn't public. The opening of an SEC inquiry is typically a preliminary step and doesn't mean SoftBank or Mr Arora, neither of whom have been accused of wrongdoing, will ever face an enforcement action.
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