Wednesday, February 1, 2017

SEC News - Impeding Whistleblowers, Accounting Failures, Misuse of EB-5 Investments


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Financial Company Charged With Improper Accounting and Impeding Whistleblowers
Seattle-based financial services company HomeStreet Inc. has agreed to pay a $500,000 penalty to settle charges that it conducted improper hedge accounting and later took steps to impede potential whistleblowers.


Company Settles Charges Over Undisclosed Perks and Improper Use of Non-GAAP Measures
New York-based marketing company MDC Partners has agreed to pay a $1.5 million penalty to settle charges that it failed to disclose certain perks enjoyed by its then-CEO and separately violated non-GAAP financial measure disclosure rules.

General Motors Charged With Accounting Control Failures
General Motors has agreed to pay a $1 million penalty to settle charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles.

Medical Device Company Charged With Accounting Failures and FCPA Violations
Texas-based medical device company Orthofix International has agreed to admit wrongdoing and pay more than $14 million to settle charges that it improperly booked revenue in certain instances and made improper payments to doctors at government-owned hospitals in Brazil in order to increase sales.

SEC Charges Businessman With Misusing EB-5 Investments
An Oakland, Calif.-based businessman has been charged for misusing money he raised from investors through the EB-5 immigrant investor program intended to create or preserve jobs for U.S. workers.



The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email.
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