Granite Construction settles SEC investigation for $12M civil penalty, enjoined from securities law violations

GRANITE CONSTRUCTION INC

Settlement with SEC resolves previously disclosed investigation; penalty of $12 million.
Company neither admits nor denies allegations but consents to injunction against certain securities law violations.
Accrual for the full $12M penalty was recorded in Q2 2022 and reflected in June 30, 2022 financial results.
SEC filed complaint in Northern District of California; settlement subject to court approval.

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