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The SEC said Monday that prior to L nike jordan yft   IPO in March 2019, a board director arranged for a shareholder to  adidas originals damen sell its shares to a special purpose vehicle set up by an investment adviser affiliated with the same director. The SEC said this director, who the agency did not name, then contacted an investor interested in purchasing the shares through the SPV. Lyft had 14 members on its board at the time it filed its S-1, including eight non-employee directors.Lyft approved the sale and even secured a number of terms in the contract, according to the SEC. The director received  millions of dollars  in compensation from the investment adviser for his role in structuring and negotiating the deal, the SEC said. And yet, Lyft never disclosed this information.The SEC s order finds that the director left the board at the time of the transaction. Lyft agreed to the fine without admitting or denying the SECjordan4  8217  charge. The federal securities laws required Lyft to disclose that a Zokg Tandem Bank launchesAutosavingsaccount
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