> ## Content Index > Fetch the complete content index at: https://www.disclosureinsight.com/llms.txt > Use this file to discover other available public pages before exploring further. # SEC Investigation Updates: September 18, 2025 - URL: https://www.disclosureinsight.com/sec-investigation-updates-september-b2a-2/ - Published: 2025-09-18T01:31:25.000Z - Updated: 2026-07-03T18:01:50.000Z - Description: Updates on SEC investigative activity - Ten (10) companies - Author: John P. Gavin, CFA - Tags: Newsletter, #Migrated-1783101638980, #Import 2026-07-03 14:01 **All-access clients are welcome to contact us anytime to learn more.** ## Today’s report - - **AGCO Corporation - AGCO** - **Alnylam Pharmaceuticals, Inc. - ALNY** - **Chevron Corporation - CVX** - **Crimson Wine Group Ltd - CWGL** - **Eli Lilly & Company - LLY** - **JAKKS Pacific, Inc. - JAKK** - **MACOM Technology Solutions - MTSI** - **TEVA Pharmaceutical Industries Ltd. - TEVA** - **TransUnion - TRU** - **Zscaler, Inc. - ZS** ***Click on the PDF here if you prefer a printable version of this report.*** [SEC Investigation Updates - September 18, 2025SEC Investigation Updates - September 18, 2025320 KBdownload-circle](https://www.disclosureinsight.com/api/v1/file/6f7c9c3e-2762-46a5-a3b7-813f920236b8.pdf "Download") [Subscribe now](https://www.disclosureinsight.com/subscribe) ### COMPANY COMMENTS ## AGCO Corporation – AGCO **Removed from Watch List.** Latest signal, dated 30-May-2025, suggested an SEC probe was ongoing. An appeal response dated 05-Sep-2025 now suggests SEC investigative activity involving this company is over. Cyber incident in May-2022 had sizable impact across the company’s operations. Cyber-related probes are getting cleared quickly now under Trump 2.0. ## Alnylam Pharmaceuticals, Inc. – ALNY **Removed from Watch List.** Latest signal, dated 16-Apr-2025, suggested an SEC probe was ongoing. However, as of 30-Jul-2025, our work concludes ongoing SEC enforcement proceedings do not appear to directly pertain to Alnylam's conduct, transactions, and/or disclosures. We learned Alnylam was involved in a sweeping SEC investigation into employment and separation agreements. Alnylam’s involvement ended in May-2025\. We also know the Audit Committee Chair left abruptly, per the 8-K filed 28-Sep-2023\. No reason given at the time. ## Chevron Corporation – CVX **New Warning.** **Added to DI Watch List.** Early signal of an undisclosed SEC investigation first received on 14-Apr-2025, later confirmed as an ongoing SEC investigation on 30-Jul-2025\. This is a change from 15-Jul-2024, when our work found no signs of SEC investigative activity. Lots of FCPA activity in Chevron’s history. **Disclosure**: *John P. Gavin, the owner of Disclosure Insight, owns shares of Chevron in a personal account.* ## Crimson Wine Group Ltd – CWGL **Early Signal Not Confirmed as an Ongoing Investigation** We received an early signal of an undisclosed SEC investigation at Crimson Wine Group on 16-Apr-2025\. However, as of 30-Jul-2025, our work concludes ongoing SEC enforcement proceedings do not appear to directly pertain to this company’s conduct, transactions, and/or disclosures. In Jul-2024, Crimson disclosed a cyber intrusion which likely triggered an SEC investigation now ended. Cyber-related probes are getting cleared quickly now under Trump 2.0. ## Eli Lilly & Company – LLY **Removed from Watch List.** Latest signal, dated 13-May-2025, suggested an SEC probe was ongoing. An appeal response, dated 02-Sep-2025, now suggests SEC investigative activity involving this company is over. In Jun-2024, LLY said the CFO was leaving for another opportunity, effective 09-Sep-2024\. The timing is notable given we got the early signal in Jul-2024. ## JAKKS Pacific, Inc. – JAKK **Early Signal Not Confirmed as an Ongoing Investigation** We received an early signal of an undisclosed SEC investigation at JAKKS on 12-May-2025\. However, as of 02-Sep-2025, our work concluded ongoing SEC enforcement proceedings do not appear to directly pertain to this company’s conduct, transactions, and/or disclosures. In Dec-2022, JAKKS disclosed a cyber intrusion which likely triggered an SEC investigation now ended. Cyber-related probes are getting cleared quickly now under Trump 2.0. ## MACOM Technology Solutions – MTSI **Early Signal Not Confirmed as an Ongoing Investigation** We received an early signal of an undisclosed SEC investigation at MACOM on 08-May-2025\. However, as of 02-Sep-2025, our work concluded ongoing SEC enforcement proceedings do not appear to directly pertain to this company’s conduct, transactions, and/or disclosures. We know nothing further about the ongoing proceedings. ## TEVA Pharmaceutical Industries Ltd. – TEVA **Warning Reiterated** **Maintained on DI Watch List.** Undisclosed SEC investigation now confirmed as ongoing two times since 06-Jun-2024, most recently on 30-Jul-2025\. Internal controls problem disclosed for the first time in the 10-K filed on 12-Feb-2024. ## TransUnion – TRU **New Warning.** **Added to DI Watch List.** Early signal of an undisclosed SEC investigation first received on 16-Apr-2025, later confirmed as an ongoing SEC investigation on 30-Jul-2025\. The investigation could easily be related to a restatement in Jan-2024; after which internal controls were still ineffective as of the Oct-2024 10-Q. They were effective again with the 10-K filed on 13-Feb-2025\. Cyber incident, Mar-2022. ## Zscaler, Inc. – ZS **Early Signal Not Confirmed as an Ongoing Investigation** We received an early signal of an undisclosed SEC investigation at Zscaler on 28-May-2025\. However, as of 02-Sep-2025, our work concluded ongoing SEC enforcement proceedings do not appear to directly pertain to this company’s conduct, transactions, and/or disclosures. We know nothing further about the ongoing proceedings. ***\-- John P. Gavin, CFA, NACD.DC*** [Subscribe](#/portal/signup) *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.* *Our Terms of Service, relevant disclosures, and other legal notices can be* [*found here*](http://www.disclosureinsight.com/)*.*