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US Securities and Exchange Commission charges BorgWarner for misstating financial statements

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Policy & Regulation

Company pays USD950,000 fine

The US Securities and Exchange Commission (SEC) has settled charges against BorgWarner Inc., a motor vehicle parts manufacturer headquartered in Michigan, for materially misstating its financial statements by failing to account for certain asbestos liabilities, according to a press release on the SEC website on 26 August.

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