Defendant Name: Heartland Payment Systems, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Global Payments, Inc.
SIC Code: 7389
CUSIP: 42235N10

Initial Case Details

Legal Case Name In the Matter of Heartland Payment Systems, LLC, f/k/a Heartland Payment Systems, Inc. and Robert O. Carr
First Document Date 21-Sep-2018
Initial Filing Format Administrative Action
File Number 3-18819
Allegation Type Issuer Reporting and Disclosure
AAER 3980

Violations Alleged

Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 21-Sep-2018
Headline Total Penalty and Disgorgement $2,160,000

Related Documents:

33-10558 21-Sep-2018 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 21, 2018, the SEC issued an order against Heartland Payment Systems, LLC, stating: "This matter arises from the disclosures of Heartland Payment Systems, Inc. and its CEO, Robert O. Carr, regarding an operating metric referred to by the company as 'New Margin Installed' or 'NMI.'"
33-10558-s 21-Sep-2018 Administrative Summary
SEC Charges Payment Processing Company and Former CEO for Overstating Key Operating Metric
The Commission stated: "The Securities and Exchange Commission today entered an order finding that, over a three-year period, Heartland Payment Systems, LLC, and its former CEO, Robert O. Carr, overstated the significance of an operating metric as a meaningful indicator of future revenue growth."

Other Defendants in Action:

Robert O. Carr