Defendant Name:
China Valves Technology, Inc.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
16947620
Initial Case Details
Legal Case Name
SEC v. China Valves Technology, Inc., Siping Fang, Jianbao Wang, and Renrui Tang
First Document Date
29-Sep-2014
Initial Filing Format
Civil Proceeding
Case Number
14-cv-01630
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
District of Columbia, District of Columbia
Violations Alleged
Additionally,
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Renrui Tang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act (willfully/knowingly).
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Renrui Tang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 12b-20 of the Exchange Act (willfully/knowingly).
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Renrui Tang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(a) of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-1 of the Exchange Act (willfully/knowingly).
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-11 of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-11 of the Exchange Act (willfully/knowingly).
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Renrui Tang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Rule 13a-13 of the Exchange Act (willfully/knowingly).
Siping Fang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Renrui Tang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Jianbao Wang is alleged to have aided and abetted China Valves Technology, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act (willfully/knowingly).
Resolutions
First Resolution Date
14-May-2015
Headline Total Penalty and Disgorgement
$765,000
Related Documents:
Complaint
On September 29, 2014, the SEC filed a complaint against China Valves Technology, Inc., and three of its senior officers in federal district court in the District of D.C. The complaint alleges that "[d]efendants misled investors about the true nature and price of [the company's] 2010 acquisition of Changsha Valve. In addition, in 2011, [the company] mischaracterized and materially overstated income and understated liabilities incurred by a wholly-owned subsidiary."
SEC Charges China Valves Technology, Inc. and Three Senior Officers with Fraud
On September 29, 2014, the SEC announced that it charged China Valves Technology, Inc. and three senior officers with fraud.
Final Judgment as to Defendant China Valves Technology, Inc.
On May 13, 2015, Federal District Judge Reggie B. Walton entered final judgement against China Valves Technology, Inc. pursuant to the consent of China Valves Technology, Inc.
SEC Obtains Final Judgments Against China Valves Technology, Inc. and Two Senior Officers in Fraud Case
On May 20, 2015, the SEC announced that on May 13, 2015, the U.S. District Court for the District of Columbia entered final judgment against China Valves Technologies, Inc., in addition to its former chairman and CEO and its CFO. According to the SEC: "China Valves, Fang, Tang, and Jianbao Wang, China Valves's former CEO, intentionally misled investors about the nature of China Valves's 2010 acquisition of Watts Valve Changsha Co., Ltd. in an effort to mask the subsidiary's prior investigation of violations of the Foreign Corrupt Practices Act and China Valves's decision to pay sales commissions to employees that potentially violated the FCPA."
Other Defendants in Action:
