Violation Tracker Individual Record

Company: 
Waste Management, Inc.
Current Parent Company: 
Waste Management
Penalty: 
$457,000,000
Year: 
2001
Date: 
November 7, 2001
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

Waste Management, Inc. agreed to pay $457 million in settlement of a class action suit with the Connecticut Treasury as the lead plaintiff which alleged that the company failed to disclose serious problems concerning its merger while some company officials engaged in insider trading. The Connecticut state pension system would be granted damages for the $12.4 million in company stock it owned.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Connecticut Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Connecticut
HQ Country of Parent: 
USA
HQ State of Parent: 
Texas
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
waste management and environmental services
Specific Industry of Parent: 
waste management
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.