Defendant Name:
Lime Energy Co.
Defendant Type:
Public Company
SIC Code:
3699
CUSIP:
53261U30
Initial Case Details
Legal Case Name
SEC v. Lime Energy Co., James G. Smith, Julianne M. Chandler, Joaquin Alberto Dos Santos Almeida, and Karan Raina
First Document Date
17-Oct-2016
Initial Filing Format
Civil Proceeding
Case Number
16-cv-08088
Allegation Type
Issuer Reporting and Disclosure
Federal District Court
New York, Southern District of New York
Violations Alleged
•
Sec 17(a) (Not specified)
Additionally,
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Karan Raina is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(a) of the Exchange Act.
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(a) of the Exchange Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(a) of the Exchange Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(a) of the Exchange Act.
Karan Raina is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-1 of the Exchange Act.
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-1 of the Exchange Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-1 of the Exchange Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-1 of the Exchange Act.
Karan Raina is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-13 of the Exchange Act.
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-13 of the Exchange Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-13 of the Exchange Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Rule 13a-13 of the Exchange Act.
Karan Raina is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Joaquin Alberto Dos Santos Almeida is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 17(a)(2) of the Securities Act.
Julianne M. Chandler is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 17(a)(2) of the Securities Act.
James G. Smith is alleged to have aided and abetted Lime Energy Co.'s violation of Sec 17(a)(2) of the Securities Act.
Resolutions
First Resolution Date
17-Oct-2016
Headline Total Penalty and Disgorgement
$1,125,000
Related Documents:
Complaint
On October 17, 2016, the SEC charged Lime Energy Co. ("Lime" or the "Company"), an energy services provider, and four of its former executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets. According to the SEC's complaint filed in the United States District Court for the Southern District of New York, "Defendant Lime Energy Co. improperly recognized millions of dollars of revenue earlier than appropriate under generally accepted accounting principles ('GAAP') and millions of dollars of non-existent revenue, and in publicly filed quarterly and annual reports that misstated a total of more than $33 million of such revenue."
2016-218
17-Oct-2016
Press Release--Civil Action
SEC Charges Energy Services Company and Executives With Accounting Fraud
On October 17, 2016, the SEC announced that it "charged an energy
services provider and four executives for their roles in an accounting fraud in which the company
recognized revenue earlier than allowed in order to meet internal targets."
Final Judgment as to Defendant Lime Energy Co.
On October 18, 2016, District Court Judge Andrew L. Carter, Jr. entered the Final Judgment as to Defendant Lime Energy Co. ("Lime" or "Defendant"). Without admitting or denying the SEC's allegations, Lime consented to the entry of the Final Judgment, which incorporated the undertakings and agreements set forth in the Defendant's Consent and enjoined the company from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934, and Rules 10b-5, 13a-1, and 13a-13 promulgated thereunder. In addition, the Final Judgment ordered Defendant to pay a civil penalty in the amount of $1,000,000.
SEC Charges Energy Services Company and Executives with Accounting Fraud
On October 17 the SEC announced that it "charged an energy services
provider and four executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets."
Other Defendants in Action:
