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The $980k fine is for not complying with certain regulations and making false and misleading statements to investors. This is the first tech unicorn that the SEC has fined.
"This settlement closes the chapter on a journey we began 18 months ago to transform Zenefits through new values and leadership," said Josh Stein, General Counsel at Zenefits, in a statement. "I'm pleased to have reached an agreement with the SEC regarding Zenefits, and I'm incredibly proud of what we built there and grateful to have worked with such a talented group of people," said Conrad, who now runs a new startup, in a statement sent to Axios.
https://www.axios.com/sec-fines-hr-software-startup-zenefits-2502038684.html
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