Defendant Name: AppFolio, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 03783C10

Initial Case Details

Legal Case Name In the Matter of AppFolio, Inc.
First Document Date 09-Sep-2024
Initial Filing Format Administrative Action
File Number 3-22080
Allegation Type Other

Violations Alleged

Other
• Rule 21F-17(a) Exchange Act

Resolutions

First Resolution Date 09-Sep-2024
Headline Total Penalty and Disgorgement $692,250

Related Documents:

34-100971 09-Sep-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 September 9, 2024, the SEC instituted settled cease-and-desist proceedings against AppFolio, Inc., stating: "As a regular part of its business, AppFolio enters into employment agreements with employees and consulting services agreements with independent contractors. These agreements define the rights and responsibilities of the employee or contractor during their working relationship with the company and after their departure. . . . [T]hese provisions created impediments to participation in the Commission’s whistleblower program by requiring individuals to forego their right to voluntarily provide information to the Commission staff or the financial award they might receive for doing so."
2024-118_3-22080 09-Sep-2024 Press Release--Administrative Proceeding
SEC Charges Seven Public Companies with Violations of Whistleblower Protection Rule
On September 9, 2024, the SEC stated: "today announced settled charges against seven public companies for using employment, separation, and other agreements that violated rules prohibiting actions to impede whistleblowers from reporting potential misconduct to the SEC."