Root Inc. has launched an internal investigation into at least $9.5 million in “inappropriate” vendor payments directed by a former senior-level marketing employee last year.
The Columbus digital auto insurer has notified the U.S. Department of Justice as well as federal and state securities regulators, according to a regulatory filing with the U.S. Securities and Exchange Commission. Root said it could not predict any resulting actions by those agencies.
Root cannot comment further during the ongoing internal investigation, a spokeswoman said via email.