Defendant Name:
Home Solutions of America, Inc.
Defendant Type:
Public Company
SIC Code:
8741
CUSIP:
43735510
Initial Case Details
Legal Case Name
SEC v. Home Solutions of America, Inc., Frank J. Fradella, Brian M. Marshall, Jeffrey M. Mattich, Rick J. O'Brien, Stephen C. Gingrich, Thomas L. Davis and Jeffrey T. Craft
First Document Date
30-Nov-2009
Initial Filing Format
Civil Proceeding
Case Number
09-cv-02269
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
Texas, Northern District of Texas
Violations Alleged
•
Sec 17(a) (Not specified)
Additionally,
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Rick J. O'Brien is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Rick J. O'Brien is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(a) of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Rick J. O'Brien is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Rick J. O'Brien is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Rick J. O'Brien is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Frank J. Fradella is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Brian M. Marshall is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Jeffrey M. Mattich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Stephen C. Gringrich is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Thomas L. Davis is alleged to have aided and abetted Home Solutions of America, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Resolutions
First Resolution Date
18-Dec-2009
Headline Total Penalty and Disgorgement
$1,550,876
Related Documents:
Complaint
On November 30, 2009, the SEC filed a complaint against Home Solutions of America, Inc. and other individual defendants. According to the SEC: "During 2005 and 2006, in the aftermath of Hurricane Katrina and other weather-related disasters, the company issued press releases and made Commission filings falsely boasting of multimillion dollar contracts and robust financial results. As a result, HSOA's stock price, then quoted on the NASDAQ, reached a peak... in May 2006. Thereafter, HSOAQ's stock price plummeted in light of large insider stock sales, public allegations of fraud, the filing of private securities suits and the Company's public announcement that it would restate its financial statements for the first and second quarters of 2007."
SEC Charges Hurricane Restoration Company and Executives In Post-Katrina Accounting Fraud; Four Individuals Settle
On November 30, 2009, the SEC announced that it filed a civil injunctive action against Home Solutions of America, Inc. and several executives "for lying about nonexistent business deals in the wake of Hurricane Katrina, and fraudulently inflating the company's stock price before the company's CEO sold millions of dollars in company shares."
2009-256
30-Nov-2009
Press Release--Civil Action
SEC Charges Hurricane Restoration Company and Executives in Post-Katrina Accounting Fraud
On November 30, 2009, the SEC announced that it charged hurricane restoration company Home Solutions of America, Inc. ("Home Solutions") and several executives, including the company's former CEO Frank Fradella ("Fradella"), for lying about non-existent business deals in the wake of Hurricane Katrina and fraudulently inflating the company's stock price before Fradella sold millions of dollars in company shares. Of the seven individual defendants named in the SEC's complaint, four agreed to settle. The remaining defendants--Home Solutions, Fradella, Home Solutions' former CFO Jeffrey Mattich, and Brian Marshall, the company's former vice president--are charged with violations of the antifraud, reporting, books and records and internal control provisions of the federal securities laws. The SEC seeks permanent injunctive relief, financial penalties, full disgorgement with interest, and officer and director bars.
Agreed Interlocutory Judgment Against Home Solutions of America, Inc.
On December 18, 2009, Home Solutions consented to the entry of an Agreed Interlocutory Judgment. Home Solutions waived findings of fact and conclusions of law and waived any right to appeal from the Agreed Interlocutory Judgment. The Agreed Interlocutory Judgment provided that, "upon motion of the Commission, the Court shall determine whether it is appropriate to order a civil penalty ... and if so, the amount(s) of the civil penalty."
Hurricane Restoration Company and Executives Settle SEC Accounting Fraud Charges
On November 20, 2018, the SEC issued a litigation release regarding charges against Home Solutions of America, Inc., stating: "The SEC charged HSOA, its former CEO, Frank J. Fradella, and its former CFO, Jeffrey M. Mattich, four other former executives, and a business partner in 2009 with fraud for lying about non-existent business deals in the 2005-2008 time period and inflating the company's revenues and stock price."
Final Judgment as to Defendant Home Solutions of America, Inc.
On December 3, 2018, the United States District Court for the Northern District of Texas issued a final judgment as to the defendant Home Solutions of America, Inc., restraining and enjoining the defendant from violating various provisions of the securities laws.
Other Defendants in Action:
