Defendant Name: Revolution Lighting Technologies, Inc.

Defendant Type: Public Company
SIC Code: 7389
CUSIP: 76155G20

Initial Case Details

Legal Case Name SEC v. Revolution Lighting Technologies, Inc. Robert LaPenta, James DePalma, Daniel O'Neal, and Allen Garner
First Document Date 24-Sep-2020
Initial Filing Format Civil Proceeding
Case Number 20-cv-01440
Allegation Type Issuer Reporting and Disclosure
Federal District Court Connecticut, District of Connecticut

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)
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(2)
• Sec 17(a)(3)
• Sec 17(a) (Not specified)
Additionally, Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 12b-20 of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(a) of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(a) of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(a) of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(a) of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-1 of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-11 of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-13 of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Robert LaPenta is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
James DePalma is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Daniel O'Neal is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Allen Garner is alleged to have aided and abetted Revolution Lighting Technologies, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Resolutions

First Resolution Date 24-Sep-2020
Headline Total Penalty and Disgorgement $1,250,000

Related Documents:

comp-pr2020-221 24-Sep-2020 Complaint
Complaint
The SEC stated: "Between the end of 2014 and mid-2018, Revolution and Revolution executives LaPenta, DePalma, Garner, and O'Neal falsely inflated the amount of revenue Revolution reported. Revolution published these inflated revenues in financial reports it filed with the Commission, made available to the investing public, and incorporated into a public stock offering. The inflated revenues were also included in public statements by Revolution and its executives. By doing so, Defendants misled investors and potential investors in Revolution by making it appear that the company was selling more lighting products, and making more revenue, than it actually was."
LR-24915 24-Sep-2020 Litigation Release
SEC Charges Lighting Products Company and Four Executives with Accounting Violations
The SEC stated that: "[It] charged Connecticut-based Revolution Lighting Technologies, Inc., for an accounting fraud that falsely inflated its reported revenues over a four-year period."
220-221 24-Sep-2020 Press Release--Civil Action
SEC Charges Lighting Products Company and Four Executives with Accounting Violations
The SEC stated that: "[It] charged Connecticut-based Revolution Lighting Technologies Inc. for an accounting fraud that falsely inflated its reported revenues over a four-year period."
court_doc8_20-cv-01440 09-Oct-2020 Court Docket Document
Final Judgment as to Defendant Revolution Lighting Technologies, Inc.
On October 9, 2020, the SEC issued a final judgment as to Defendant Revolution Lighting Technologies, Inc. stating: "Defendant . . . consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Other Defendants in Action:

Robert LaPenta
James DePalma
Daniel O'Neal
Allen Garner

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