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SEC investigates allegations of misspending by Dow Chemical CEO

Publisher: Reuters
Authors: Josh Schneyer, Sarah Lynch, & Brian Grow

The U.S. Securities and Exchange Commission is investigating allegations that Andrew Liveris, chairman and chief executive officer of industrial giant Dow Chemical Co, misused company funds for personal benefit, according to people familiar with the matter.

It is not clear whether the SEC investigation is limited to the spending allegations or is broader in scope. Also unclear is whether regulators have ordered Dow, Liveris or other company officials to hand over documents or testify as part of the government’s investigation.

But Reuters has learned that the SEC did issue subpoenas for thousands of pages of documents and testimony that were part of a whistleblower-retaliation lawsuit brought last year by a former Dow employee, Kimberly Wood.

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