Defendant Name: Cloopen Group Holding Limited

Defendant Type: Public Company
SIC Code: 7379
CUSIP: 18900M20

Initial Case Details

Legal Case Name In the Matter of Cloopen Group Holding Limited
First Document Date 06-Feb-2024
Initial Filing Format Administrative Action
File Number 3-21844
Allegation Type Issuer Reporting and Disclosure
AAER 4487

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Other
• Rule 13a-16 Exchange Act

Resolutions

First Resolution Date 06-Feb-2024

Related Documents:

34-99483 06-Feb-2024 Administrative Proceeding
Order Instituting Cease-And-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On February 6, 2024, the SEC instituted cease-and-desist proceedings against Cloopen Group Holding Limited, stating: "These proceedings arise from an accounting fraud perpetrated by the former Operating Management Director and a former Department Head at Cloopen (the “Senior Managers”)."
2024-15 06-Feb-2024 Press Release--Administrative Proceeding
SEC Charges China-Based Tech Company Cloopen Group with Accounting Fraud; Comission declines to impose civil penalties because of company's self-reporting, cooperation and remediation
On February 6, 2024, the SEC "announced settled accounting fraud charges against Cloopen Group Holding Limited, a China-based provider of cloud communications products and services whose American depositary shares formerly traded on the New York Stock Exchange. The SEC determined not to impose civil penalties against Cloopen because the company self-reported its accounting issues, cooperated extensively with the staff’s investigation, and undertook prompt remedial measures."