FTC plans to recommend a possible criminal case against ex-Pioneer CEO [Yahoo! Finance]
Bristol-Myers Squibb Company (BMY)
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Source: Yahoo! Finance
Resources for comments he made to Texas rivals suggesting they coordinate ways to drill less oil, people familiar with the matter said. The FTC yesterday barred Scott Sheffield, who led Pioneer until the end of 2023 and orchestrated its pending merger with Exxon, from sitting on the combined company's board as a condition of approving the deal. The agency doesn't have criminal authority but is looking to refer the matter to the US Justice Department, the people said. In text messages obtained by the government, Sheffield discussed ways to curtail production and assured officials at OPEC+, the cartel of oil-producing countries that includes Saudi Arabia, Russia, and Venezuela, that Pioneer and its Texas rivals were trying to keep oil output artificially low. “If Texas leads the way, maybe we can get OPEC to cut production,” Sheffield wrote, according to the government's redacted complaint . “Maybe Saudi and Russia will follow. That was our plan,” he said, adding: “I was using the
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BMY
Earnings
- 4/25/24 - Miss
BMY
Sec Filings
- 5/9/24 - Form 8-K
- 5/3/24 - Form 4
- 4/25/24 - Form 10-Q
- BMY's page on the SEC website