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SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE No. 21984 / June 2, 2011

U.S. Securities and Exchange Commission v. Bruce E. Snyder, Jr., Civil Action No. 03 CV 4658 (S.D.Tx.) (February 1, 2006)

SEC SETTLES CHARGES WITH BRUCE E. SNYDER, Jr., FORMER CHIEF ACCOUNTING OFFICER OF WASTE MANAGEMENT, INC.

The Securities and Exchange Commission (“Commission”) announced today that it settled its civil injunctive action previously filed against Bruce E. Snyder, Jr. (“Snyder”), in the United States District Court for the Southern District of Texas. Snyder formerly was Chief Accounting Officer of Waste Management, Inc. (“WMI”). The complaint previously filed in this matter alleged that Snyder, among other things, prepared, reviewed, and signed a materially false or misleading Form 10-Q that Waste Management, Inc. filed with the Commission for the first quarter of its fiscal year ended December 31, 1999.

Snyder, without admitting or denying the allegations in the Commission’s Complaint, consented to an order permanently enjoining him from aiding and abetting violations of Section 13(a) of the Securities Exchange Act of 1934 (“Exchange Act”), and Exchange Act Rules 12b-20 and 13a-13, the reporting provisions of the federal securities laws.

See Litigation Release NO. 18422 / October 22, 2003.

The SEC's complaint in SEC v. Bruce E. Snyder, Jr. can be found on the SEC's web site at:

http://www.sec.gov/litigation/complaints/comp18422a.htm

 

http://www.sec.gov/litigation/litreleases/2011/lr21984.htm


Modified: 06/02/2011