By Kyle Brasseur2023-06-06T15:56:00
A Pennsylvania-based electronic payments software company agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission (SEC) arising from improper revenue recognition practices.
Cantaloupe, formerly known as USA Technologies (USAT), filed materially misstated financial statements with the SEC beginning in the fourth quarter of fiscal year 2017 through the third quarter of FY2018, according to the agency. The alleged misconduct occurred while the company was preparing a May 2018 public offering, the prospectus of which included the misstated financials, the SEC noted.
The improper accounting practices occurred in two forms, the SEC explained in its order filed Monday.
2024-09-06T16:57:00Z By Aaron Nicodemus
Massachusetts-based technology company Circor International settled charges with the Securities and Exchange Commission regarding deficient internal accounting controls without paying a fine.
2024-05-16T18:52:00Z By Jeff Dale
Evoqua Water Technologies agreed to pay $8.5 million as part of a nonprosecution agreement with the Department of Justice to settle admitted criminal charges related to fraudulent revenue recognition.
2024-02-07T12:51:00Z By Kyle Brasseur
China-based technology company Cloopen Group Holding won’t pay a fine in settling with the Securities and Exchange Commission over an alleged accounting fraud scheme perpetrated by two of its former senior managers.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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