Defendant Name: China Intelligent Lighting and Electronics, Inc.

Defendant Type: Public Company
SIC Code: 3674
CUSIP: 16890G20

Initial Case Details

Legal Case Name SEC v. China Intelligent Lighting and Electronics, Inc. et al.
First Document Date 22-Jul-2013
Initial Filing Format Civil Proceeding
Case Number 13-cv-05079
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Southern District of New York

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Securities Act
• Sec 17(a) (Not specified)
Additionally, Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Rule 13a-1 of the Exchange Act (willfully/knowingly).
Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Xuemei Li is alleged to have aided and abetted China Intelligent Lighting and Electronics, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act (willfully/knowingly).

Resolutions

First Resolution Date 10-Mar-2014
Headline Total Penalty and Disgorgement $76,477,649

Related Documents:

comp22755 22-Jul-2013 Complaint
Complaint
On July 22, 2013, the SEC filed a complaint alleging that "China Intelligent Lighting and Electronics, Inc. and NIVS Intellimedia Technology Group, Inc., led by their respective CEOs Xuemei Li and her brother Tianfu Li, engaged in fraudulent schemes to raise and then divert offering proceeds. In raising the money, the defendants made false representations about how the offering proceeds were to be used."
LR-22755 22-Jul-2013 Litigation Release
SEC Files Fraud Charges Against China Intelligent Lighting and Electronics, Inc.; NIVS Intellimedia Technology Group, Inc.; and Their Sibling CEOs
On July 22, 2013, the SEC issued a litigation release announcing that it "filed fraud and other related charges against China Intelligent Lighting and Electronics, Inc. (CIL); NIVS IntelliMedia Technology Group, Inc. (NIV); and their respective CEOs, Xuemei Li and, her brother, Tianfu Li. CIL reports that it is a lighting company, and NIV reports that it is a consumer electronic company. Both are located in China. The Commission alleges that CIL, NIV, and their CEOs engaged in fraudulent schemes to raise and divert offering proceeds, and then attempted to hide the diversions by lying to auditors and making false and materially misleading filings with the Commission."
court-doc38_13-cv-05079 10-Mar-2014 Court Docket Document
Default Judgment as to Defendant China Intelligent Lighting and Electronics, Inc.
On March 10, 2014, Federal District Judge Jesse M. Furman entered default judgment against China Intelligent Lighting and Electronics, Inc. pursuant to Rule 54(b) of the Federal Rules of Civil Procedure.

Other Defendants in Action:

NIVS IntelliMedia Technology Group, Inc.
Xuemei Li
Tianfu Li