Defendant Name: Grant Thornton, LLP

Defendant Type: Other

Initial Case Details

Legal Case Name In the Matter of Grant Thornton, LLP
First Document Date 02-Dec-2015
Initial Filing Format Administrative Action
File Number 3-16976
Allegation Type Issuer Reporting and Disclosure
AAER 3718

Violations Alleged

Other
• Section 4C Exchange Act; Rule 102(e)(1)(iv) Commission's Rules of Practice

Related Violations Alleged

Grant Thornton, LLP is alleged to have caused Assisted Living Concepts, Inc.'s violation of Sec 13(a) of the Exchange Act.
Grant Thornton, LLP is alleged to have caused Assisted Living Concepts, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Grant Thornton, LLP is alleged to have caused Assisted Living Concepts, Inc.'s violation of Rule 13a-13 of the Exchange Act.

Resolutions

First Resolution Date 02-Dec-2015
Headline Total Penalty and Disgorgement $4,536,570

Related Documents:

34-76536 02-Dec-2015 Administrative Proceeding
Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Sections 4C and 21C of the Securities Exchange Act of 1934, and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 2, 2015, the SEC instituted settled cease-and-desist proceedings against Grant Thornton, LLP. The SEC stated: "This matter involves improper professional conduct by Grant Thornton while serving as the auditor of two clients of Grant Thornton's Wisconsin practice: Assisted Living Concepts, Inc. ("ALC"), a publicly traded senior living company, and Broadwind Energy, Inc. ("Broadwind"), a publicly traded alternative energy company. During the course of its engagements, Grant Thornton repeatedly violated professional standards while ignoring repeated red flags and fraud risks that allowed ALC and Broadwind to file numerous reports with the commission that were materially false and misleading."

Related Actions:

SEC v. Broadwind Energy, Inc., J. Cameron Drecoll, and Stephanie K. Kushner
Broadwind Energy, Inc.
J. Cameron Drecoll
Stephanie K. Kushner
In the Matter of Melissa K. Koeppel, CPA, and Jeffrey J. Robinson, CPA
Melissa K. Koeppel, CPA
Jeffrey J. Robinson, CPA