This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Sequential Brands Group charged by US SEC with fraudulently inflating income

( December 11, 2020, 16:41 GMT | Official Statement) -- MLex Summary: Sequential Brands Group, a brand-management company, was charged by the US Securities and Exchange Commission with fraudulently inflating its income from operations by failing to record an accounting charge that is supposed to kick in when the carrying value of its goodwill on its financial statements exceeds the fair value of this goodwill. The New York-based company failed to properly assess its goodwill in 2016 after several months of declining stock prices followed by a steep plunge in these prices. Sequential Brands belatedly took the $304 million impairment charge in the fourth quarter of 2017, the SEC alleged.Statement follows in full. Also see document below. ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections