Some of the public companies planning to disregard the Treasury Department and keep their Paycheck Protection Program loans warned investors it could lead to penalties or fines
At least 30 public companies that received loans under the Paycheck Protection Program say they plan to keep the money, and some are now telling investors to brace for scrutiny.
The Treasury Department, after ruling that businesses with access to other sources of capital weren’t eligible for the forgivable loans, gave public companies until Monday to return the funds. More than 230 had received more than $1 billion as part of the coronavirus rescue package, according to an analysis of public filings through April 27—news that...
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