Defendant Name: Tandy Leather Factory, Inc.

Defendant Type: Public Company
SIC Code: 3100
CUSIP: 87538X10

Initial Case Details

Legal Case Name In the Matter of Tandy Leather Factory, Inc. and Shannon Greene, CPA
First Document Date 21-Jul-2021
Initial Filing Format Administrative Action
File Number 3-20403
Allegation Type Issuer Reporting and Disclosure
AAER 4228

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Rule 13a-15
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Additionally, Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Sec 13(a) of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Rule 13a-15 of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Shannon Greene, CPA is alleged to have caused Tandy Leather Factory, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Resolutions

First Resolution Date 21-Jul-2021
Headline Total Penalty and Disgorgement $200,000

Related Documents:

34-92455 21-Jul-2021 Administrative Proceeding
Order Instituting Cease and Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, Imposing Remedial Sanctions and Imposing a Cease and Desist Order
On July 21, 2021, the SEC instituted settled cease-and-desist proceedings against Tandy Leather Factory, Inc. and Shannon Greene, CPA stating: "This matter involves accounting, financial reporting, and control failures by Tandy, a specialty leather retailer headquartered in Fort Worth, Texas. These deficiencies resulted in a multi-year restatement in Tandy's financial statements concerning, among other things, inventory, net income and gross profit. Shannon Greene, Tandy's former Chief Financial Officer ("CFO") and Chief Executive Officer ("CEO"), was the person primarily responsible for the establishment, implementation, maintenance, and evaluation of Tandy's relevant controls."
2021-133 21-Jul-2021 Press Release--Administrative Proceeding
SEC Charges Retailer and Former CEO for Accounting, Reporting, and Control Failures
The SEC "announced that Fort Worth, Texas, specialty retailer Tandy Leather Factory Inc. and its former chief executive officer Shannon Greene have agreed to settle charges for accounting, reporting, and control failures that led to a multi-year restatement of the company’s financial statements."

Other Defendants in Action:

Shannon Greene, CPA

Related Actions:

In the Matter of James Fitts, CPA
James Fitts, CPA