Defendant Name: ProPetro Holding Corp.

Defendant Type: Public Company
SIC Code: 1382
CUSIP: 74347M10

Initial Case Details

Legal Case Name In the Matter of ProPetro Holding Corp. and Dale Redman
First Document Date 22-Nov-2021
Initial Filing Format Administrative Action
File Number 3-20661
Allegation Type Issuer Reporting and Disclosure
AAER 4268

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 14(a)
• Rule 14a-3
• Rule 14a-9
Additionally, Dale Redman is alleged to have caused ProPetro Holding Corp.'s violation of Rule 12b-20 of the Exchange Act.
Dale Redman is alleged to have caused ProPetro Holding Corp.'s violation of Sec 13(a) of the Exchange Act.
Dale Redman is alleged to have caused ProPetro Holding Corp.'s violation of Rule 13a-1 of the Exchange Act.
Dale Redman is alleged to have caused ProPetro Holding Corp.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Dale Redman is alleged to have caused ProPetro Holding Corp.'s violation of Sec 13(b)(2)(B) of the Exchange Act.

Resolutions

First Resolution Date 22-Nov-2021

Related Documents:

2021-244 22-Nov-2021 Press Release--Administrative Proceeding
SEC Charges Oilfield Services Company and Former CEO with Failing to Disclose Executive Perks and Stock Pledges
The SEC stated that: "Texas-based oilfield services company ProPetro Holding Corp. and its founder and former CEO Dale Redman have agreed to settle charges that they failed to properly disclose some of Redman’s executive perks and two stock pledges."
33-11008 22-Nov-2021 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange act of 1934, Making Findings and Imposing a Cease-and-Desist Order
On November 22, 2021, the SEC instituted settled cease-and-desist proceedings against ProPetro Holding Corp. and Dale Redman stating: "These proceedings arise from: (a) ProPetro’s failure to disclose certain perquisites and stock pledges concerning its co-founder and former CEO Dale Redman in its definitive proxy statements and annual reports for the fiscal years ended December 31, 2017 and 2018; and (b) Redman’s role in ProPetro’s failure to disclose the perquisites paid to him and his pledges of ProPetro stock while he was CEO and a member of ProPetro’s Board of Directors."

Other Defendants in Action:

Dale Redman