The former UPS Freight LTL carrier – which has been enough of a headache for its subsequent owner that its CEO felt the need to defend its acquisition in a recent earnings call – was not properly valued by UPS when its sale was being considered, according to the Securities and Exchange Commission.
The penalty levied against UPS, after what the SEC said was a settlement with the logistics provider, was a $45 million fine. UPS, in the settlement, did not admit or deny the SEC findings, according...