US reg­u­la­tors probe SoftBank over the mis­con­duct claims against ex-chief

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - Agence France-Presse ht­metro@hin­dus­tan­times.com

The US mar­ket reg­u­la­tor is ex­am­in­ing Ja­panese mo­bile gi­ant SoftBank over mis­con­duct al­le­ga­tions lodged against its for­mer pres­i­dent Nikesh Arora, who quit last week, Bloomberg News re­ported on Thurs­day.

The Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) is seek­ing to find out whether Arora had con­flicts of in­ter­est or en­gaged in ques­tion­able be­hav­iour, the re­port said, cit­ing un­named peo­ple fa­mil­iar with the mat­ter.

The watch­dog was also eye­ing SoftBank’s dis­clo­sures to in­vestors, it said, adding that the in­quiry was a pre­lim­i­nary step and does not guar­an­tee fur­ther ac­tion against the com­pany or its for­mer ex­ec­u­tive.

“SoftBank Group does not com­ment on press re­ports of (US) reg­u­la­tory in­quiries,” the com­pany said in a state­ment on Thurs­day in re­sponse to the re­port.

In­dia-born Arora, once seen as SoftBank boss Masayoshi Son’s heir ap­par­ent, stepped down last week just two years af­ter be­ing plucked from a high-pro­file job at Google.

Son told an an­nual share­hold­ers’ meet­ing he had changed his mind about the time­line for step­ping down to make way for right­hand man Arora.

Nikesh Arora:

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