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

Exchange Act
Sec 10(b) + Rule 10b-5
Rule 12b-20
Sec 13(a)
Rule 13a-1
Rule 13a-11
Rule 13a-13
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)
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:

comp23096 29-Sep-2014 Complaint
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."
LR-23096 29-Sep-2014 Litigation Release
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.
court_doc20_14-cv-01630 14-May-2015 Court Docket Document
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.
LR-23266 20-May-2015 Litigation Release
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:

Related Actions:

In the Matter of Renrui Tang
In the Matter of Frazer Frost, LLP; Susan Woo, CPA; and Miranda Suen, CPA