Defendant Name: Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)

Defendant Type: Public Company
SIC Code: 3679
CUSIP: 09175M10

Initial Case Details

Legal Case Name In the Matter of Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation); Milton Charles (“Todd”) Ault III; and William B. Horne, CPA
First Document Date 15-Aug-2023
Initial Filing Format Administrative Action
File Number 3-21561
Allegation Type Issuer Reporting and Disclosure
AAER 4440

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Rule 13a-15
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 14(a)
• Rule 14a-3
• Rule 14a-9
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)
Additionally, Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 12b-20 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 13(a) of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 13a-1 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 13a-11 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 13a-13 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 13(b)(2)(A) of the Exchange Act.
William B. Horne, CPA is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 13(b)(2)(B) of the Exchange Act.
William B. Horne, CPA is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 14(a) of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 14a-3 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Rule 14a-9 of the Exchange Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 17(a)(2) of the Securities Act.
Milton Charles (“Todd”) Ault III is alleged to have caused Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)'s violation of Sec 17(a)(3) of the Securities Act.

Resolutions

First Resolution Date 15-Aug-2023
Headline Total Penalty and Disgorgement $700,000

Related Documents:

33-11222 15-Aug-2023 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 August 15, 2023, the SEC instituted settled cease-and-desist proceedings against Ault Alliance, Inc., Milton Charles Auld III, and William B. Horne, stating: "This matter involves material misstatements regarding certain businesses of AAI, the failure to disclose interests in related person transactions, improper recording of purported consulting services, erroneous accounting of investments, and the failure to maintain accounting and disclosure controls."
33-11222-s 15-Aug-2023 Administrative Summary
SEC Charges Ault Alliance, Inc. and former CEO Milton Charles ("Todd") Ault III with Making Misleading Disclosures and Other Violations, and Charges Current CEO for Record-keeping and Internal Control Violations
On August 15, 2023, the SEC "announced settled charges against Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation) (“AAI”) and its Executive Chairman and then-Chief Executive Officer, Milton Charles (“Todd”) Ault III, arising out of misleading disclosures and reporting, proxy statement, books and records, and internal controls violations during the period 2016-2021. The Commission also announced settled charges against AAI’s former Chief Financial Officer and current CEO, William Horne, CPA, for his role in the falsification of AAI’s books and records."

Other Defendants in Action:

Milton Charles (“Todd”) Ault III
William B. Horne, CPA