Defendant Name:
Surgalign Holdings, Inc.
Defendant Type:
Public Company
SIC Code:
8731
CUSIP:
86882C10
Initial Case Details
Legal Case Name
In the Matter of Surgalign Holdings, Inc. and Robert P. Jordheim
First Document Date
03-Aug-2022
Initial Filing Format
Administrative Action
File Number
3-20945
Allegation Type
Issuer Reporting and Disclosure
AAER
4318
Violations Alleged
Additionally,
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Sec 13(a) of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Robert P. Jordheim is alleged to have caused Surgalign Holdings, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Resolutions
First Resolution Date
03-Aug-2022
Related Documents:
33-11088
03-Aug-2022
Administrative Proceeding
Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, 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 August 3, 2022, the SEC instituted public administrative and cease-and-desist proceedings against Surgalign Holdings, Inc., and Robert P. Jordheim, stating: "From 2015 through 2019, RTI shipped orders weeks or months before its customers
had originally requested delivery, thereby pulling sales forward from future quarters, to address
projected quarterly revenue shortfalls."
2022-137
03-Aug-2022
Press Release--Administrative Proceeding
SEC Charges Surgical Implant Manufacturer Surgalign and Former Senior Executives with Accounting and Disclosure Fraud
The SEC stated that: "[It] charged Surgalign Holdings,
Inc., formerly RTI Surgical Holdings, Inc., and former executives Brian Hutchison and Robert Jordheim for masking
disappointing sales numbers by shipping future orders ahead of schedule to accelerate, or “pull forward,” revenue
and then failing to disclose this practice to investors. In June 2020, RTI restated its public financial statements from
2014 through 2019 to correct errors caused by this practice."
34-96010
07-Oct-2022
Administrative Proceeding
Extension Order
The Commission ordered that: "the Division’s request for an extension of time until October 7, 2023 to submit a Proposed Plan of Distribution is granted."
34-96997
01-Mar-2023
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-98600
28-Sep-2023
Administrative Proceeding
Order Appointing Fund Administrator, Setting Administrator's Bond Amount, and Authorizing Payment of Fees and Expenses
The Commission ordered that: "A. Epiq is appointed as the Fund Administrator, . . . B. Epiq shall obtain a bond . . . in the amount of $2,075,000.00."
Other Defendants in Action:
