Terex Corp. has proposed a settlement with the Securities & Exchange Commission staff that includes an $8 million civil penalty to settle an investigation over accounting practices and financial statements.
The SEC’s investigation focused on financial restatements for the years 2000 through 2004 and the accounting of transactions between Terex or a subsidiary and United Rentals.
The proposed settlement with SEC staff remains subject to approval by SEC commissioners, Westport, Conn.-based Terex said in a regulatory filing last week.
