Defendant Name: Smart for Life, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 83204U50

Initial Case Details

Legal Case Name In the Matter of Smart for Life, Inc.
First Document Date 09-Sep-2024
Initial Filing Format Administrative Action
File Number 3-22083
Allegation Type Other

Violations Alleged

Other
• Rule 21F-17(a) Exchange Act

Resolutions

First Resolution Date 09-Sep-2024
Headline Total Penalty and Disgorgement $19,500

Related Documents:

34-100974 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 Smart for Life, Inc., stating: "As a regular part of its business, Smart for Life enters into separation agreements with certain employees who leave the company. A separation agreement is a contract between an employer and a departing employee documenting the rights and responsibilities of both parties incidental to the ending of the employment relationship. . . [T]hese provisions created impediments to participation in the Commission's whistleblower program by having the former employees forego the critically important financial incentives that are intended to encourage persons to communicate directly with the Commission staff about possible securities law violations."
2024-118_3-22083 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."