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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-16T19:14:00
Diversified holding company Ault Alliance agreed to pay $700,000 as part of a settlement with the Securities and Exchange Commission (SEC) addressing allegations of misleading disclosures and reporting violations.
The settlement pertains to material misstatements regarding certain businesses of Ault Alliance, failure to disclose interests in related-person transactions, improper recording of purported consulting services, erroneous accounting of investments, and failure to maintain accounting and disclosure controls, the SEC said in its order published Tuesday.
The agency also reached settlements with Milton Ault, the company’s executive chairman and former chief executive officer, and William Horne, the current CEO and former chief financial officer. Ault agreed to pay a penalty, disgorgement, and prejudgment interest totaling approximately $236,000, and Horne was fined $20,720.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-09-28T17:44:00Z By Kyle Brasseur
A former engagement quality review partner at Marcum agreed to pay a $30,000 penalty and be suspended as part of a settlement with the Securities and Exchange Commission addressing alleged violations of audit standards in his work at diversified holding company Ault Alliance.
2023-09-25T17:50:00Z By Jeff Dale
GTT Communications, a provider of telecommunications and internet services, avoided a civil penalty in reaching a settlement with the Securities and Exchange Commission addressing alleged disclosure failures over more than a two-year period.
2023-08-17T19:34:00Z By Kyle Brasseur
The Lovesac Company disclosed it expects to restate certain of its 2023 financial statements after an internal investigation uncovered accounting errors related to its recording of last mile freight expenses.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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