Defendant Name: Assurant, Inc.

Defendant Type: Public Company
SIC Code: 6331
CUSIP: 04621X10

Initial Case Details

Legal Case Name SEC v. Assurant, Inc.
First Document Date 21-Jan-2010
Initial Filing Format Civil Proceeding
Case Number 10-cv-00484
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Southern District of New York

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 21-Jan-2010
Headline Total Penalty and Disgorgement $3,500,000

Related Documents:

LR-21388 21-Jan-2010 Litigation Release
SEC Charges Assurant, Inc. With Improper Reinsurance Accounting; Company Agrees To Permanent Injunction And Civil Penalty
On January 21, 2010, the SEC published a litigation release announcing that it filed a settled civil injunctive action against Assurant, Inc. alleging violations of corporate reporting, books and records and internal controls provisions of the Securities Exchange Act of 1934.
comp21388 21-Jan-2010 Complaint
Complaint
On January 21 the SEC filed a complaint against Assurant, Inc. According to the SEC: "This matter involves the failure of Assurant, a publically traded insurance company, to properly account for millions of dollars that it obtained in the third quarter of 2004 under a so-called 'reinsurance policy'. The reinsurance policy was subject to an undisclosed 'handshake' agreement that effectively negated risk transfer. As a result, under applicable accounting rules, Assurant should have accounted for the policy as a deposit rather than as true reinsurance. By failing to do so, Assurant overstated its reported net income for the quarter ended September 30, 2004, by nearly 10% and in process violated corporate reporting, recordkeeping and internal control provisions of the federal securities laws."
court_doc3_10-cv-00484 25-Jan-2010 Court Docket Document
Final Consent Judgment of Permanent Injunction and Other Relief as to Defendant Assurant, Inc.
On January 25, 2010, Federal District Judge Cedarbaum entered final judgment against Assurant, Inc. pursuant to the consent of Assurant, Inc.