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Stock Market & Financial Investment News

News Breaks
October 5, 2012
16:39 EDTWLFCWillis Lease authorizes $100M share repurchase program
Willis Lease Finance Corporation announced that its board of directors has authorized a plan to repurchase up to $100M of its common stock over the next five years. Willis Lease had 9.4M shares of common stock outstanding as of June 30. This plan extends the previous plan authorized on December 8, 2009, and increases the number of shares authorized for repurchase to up to $100M. The timing of the purchases and the exact number of shares to be purchased will depend on market conditions and be subject to all regulatory requirements.
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September 10, 2014
13:47 EDTWLFCWillis Lease settles SEC action on late filings
Willis Lease announced that the U.S. Securities and Exchange Commission has approved the settlement of an administrative proceeding, previously disclosed in the company's Forms 10-K and 10-Q, alleging that in certain instances company executives had failed to timely file reports regarding their stock ownership. The SEC's case was part of a broad sweep against multiple public companies and their executives relating to late filings of such reports. The company has hired a new General Counsel and has taken remedial steps to ensure ongoing compliance with filing deadlines, including the hiring of a new SEC compliance manager. The company will continue to monitor its policies and personnel to ensure ongoing corporate compliance. Without admitting or denying the allegations, the company has agreed to pay a civil penalty of $150K and to cease and desist from future violations of applicable securities law provisions, while officers Charles Willis IV, Bradley Forsyth, and Donald Nunemaker have agreed to pay $75.5K, $25K, and $25,K, respectively.

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