Defendant Name: Desarrolladora Homex S.A.B. de C.V

Defendant Type: Public Company
SIC Code: 1522
CUSIP: 25030W10

Initial Case Details

Legal Case Name SEC v. Desarrolladora Homex, S.A.B. de C.V.
First Document Date 03-Mar-2017
Initial Filing Format Civil Proceeding
Case Number 17-cv-00432
Allegation Type Issuer Reporting and Disclosure
Federal District Court California, Southern District of California

Violations Alleged

Exchange Act
Sec 10(b) + Rule 10b-5
Rule 12b-20
Sec 13(a)
Rule 13a-1
Rule 13a-20
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)
Securities Act
Sec 17(a) (Not specified)
Rule 13a-16 Exchange Act


First Resolution Date 03-Mar-2017

Related Documents:

comp23765 03-Mar-2017 Complaint
Complaint for Violations of the Federal Securities Laws
In the complaint, The Commission alleged that "From at least 2010 through 2013, and acting, with scienter, through certain of its then senior officers and employees, Homex improperly recognized billions of dollars of revenue. In particular, Homex systematically and fraudulently reported revenue from the sale of tens of thousands of homes annually that it had neither built nor sold. Homex personnel perpetrated this fraud by manually entering false information into its internal accounting and financial systems."
LR-23765 03-Mar-2017 Litigation Release
SEC Charges Mexico-Based Homebuilder In $3.3 Billion Accounting
On March 3, 2017 in a litigation release, the SEC announced that Mexico-based homebuilding company Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges. According to the SEC: allegedly, "Homex, one of the largest homebuilders in Mexico at the time, inflated the number of homes sold during the three year period by approximately 317 percent and overstated its revenue by 355 percent (approximately $3.3 billion)."
2017-60 03-Mar-2017 Press Release--Civil Action
SEC Charges Mexico-Based Homebuilder in $3.3 Billion Accounting Fraud-- SEC Uses Satellite Imagery to Crack Case
On March 3, 2017 the SEC announced in a press release that Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges. According to the SEC: by inflating the number of homes sold during a three-year period, "Homex deprived its investors of accurate and reliable financial results by reporting key numbers that were almost completely made up."
court_doc9_17-cv-00432 28-Mar-2017 Court Docket Document
Final Judgment as to Defendant Desarrolladora Homex S.A.B. de C.V.

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In the Matter of Carlos Javier Moctezuma Velasco
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