SEC Investigation Updates: July 24, 2025
Updates on SEC investigative activity - Six (6) companies
All-access clients are welcome to contact us anytime to learn more.
Today’s report -
AT&T, Inc. - T
Hologic, Inc. - HOLX
Medallion Financial Corp. - MFIN
Microsoft Corp. - MSFT
Sapiens International Corp. N.V. - SPNS
Uber Technologies, Inc. - UBER
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COMPANY COMMENTS
AT&T, Inc. – T
New Warning.
Early signal of an undisclosed SEC investigation first received on 24-Jan-2025, then confirmed as an ongoing investigation on 18-Jul-2025. Multiple SEC investigations found, at least four of them. Two appear to have ended; we received a copy of a termination letter related to a third one that involved a cyber incident. An unspecified number of investigations remain active and ongoing, as of 18-Jul-2025. We found multiple undisclosed SEC probes of AT&T in recent years, including one that generated over 2,500 boxes of records. This was among the largest we ever tracked, yet the company rationalized keeping it from investors. Added back to DI Watch List.
Hologic Inc. – HOLX
Warning Reiterated
Undisclosed SEC investigation now confirmed as ongoing two times since 09-Aug-2024, most recently on 18-Jul-2025. Maintained on DI Watch List.
Medallion Financial Corp. – MFIN
Disclosed SEC Investigation Finally Settled – 8 Years Later
In its Aug-2021 10-Q, Medallion Financial finally disclosed an SEC investigation we repeatedly warned about since we got our early signal of it in Aug-2017.
Now, in the 8-K filed on 02-Jun-2025, MFIN says it finally resolved its related SEC litigation. Our latest information, dated 18-Jul-2025, tells us there are no other ongoing SEC exposures.
Microsoft Corp. – MSFT
Warning Reiterated
Undisclosed SEC investigations now confirmed as ongoing two times since 26-Mar-2024. An unspecified number of investigations remain active and ongoing, as of 18-Jul-2025. A separate investigation appears to have ended. It’s possible it’s related to a cyber incident, first disclosed in Jan-2024. Cyber-related probes are getting cleared quickly now under Trump 2.0. Maintained on DI Watch List.
Sapiens International Corp. NV – SPNS
Warning Reiterated
Undisclosed SEC investigation now confirmed as ongoing three times since 02-May-2023, most recently on 18-Jul-2025. Maintained on DI Watch List.
Uber Technologies, Inc. – UBER
New Warning.
Early signal of an undisclosed SEC investigation first received on 17-Jan-2025, later confirmed as an ongoing SEC investigation on 02-May-2025. Added to DI Watch List.
-- John P. Gavin, CFA, NACD.DC
This report does not constitute investment advice or an offering to buy, sell or recommend any securities. The information herein is distributed purely as a newsworthy event. All information contained herein is derived from publicly-available disclosures as made by the companies cited in this report, and/or documents obtained from the U.S. Securities and Exchange Commission.
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