Defendant Name:
Sequential Brands Group, Inc.
Defendant Type:
Public Company
SIC Code:
6211
CUSIP:
81734P10
Initial Case Details
Legal Case Name
SEC v. Sequential Brands Group, Inc.
First Document Date
11-Dec-2020
Initial Filing Format
Civil Proceeding
Case Number
20-cv-10471
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
New York, Southern District of New York
Resolutions
First Resolution Date
01-Dec-2021
Related Documents:
SEC Charges Sequential Brands Group, Inc. with Deceiving Investors by Failing to Timely Impair Goodwill
The SEC stated that: "[It] charged New York-based brand-management company Sequential Brands Group, Inc. with failing to impair its goodwill as required by accounting principles and the federal securities laws."
Complaint
The SEC stated: "This case arises from the failure of New York-based brand management company
Sequential to take into consideration clear, objective evidence of likely goodwill impairment, which avoided and delayed a material write down to goodwill in the fourth quarter of 2016 and
the first three quarters of 2017 (the “Relevant Period”)."
2020-315
11-Dec-2020
Press Release--Civil Action
SEC Charges Sequential Brands Groups Inc. with Deceiving investors by Failing to Timely Impair Goodwill
The SEC stated that: "[It] charged New York-based brand-management company Sequential Brands Group Inc. with failing to impair its goodwill as required by accounting principles and the federal securities laws."
Final Judgment as to Defendant Sequential Brands Group, Inc.
The Court stated: "Defendant
Sequential Brands Group, Inc. . . . consented to the Court’s
jurisdiction over Defendant and the subject matter of this action; 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."
SEC Obtains Final Judgment Against Sequential Brands Groups, Inc. for Failing to Timely Impair Goodwill
The SEC: "announced that Sequential Brands Group, Inc., agreed to the entry of a final judgment permanently enjoining Sequential from future violations of the antifraud provision of Section 17(a)(3) of the Securities Act of 1933 and certain reporting, books and records, and internal control provisions under the Securities Exchange Act of 1934. The U.S. District Court for the Southern District of New York entered the final judgment against Sequential on December 1, 2021."
