Defendant Name:
GSI Group, Inc.
Defendant Type:
Public Company
SIC Code:
3600
CUSIP:
36191C20
Document Reference:
34-64498
Document Details
Legal Case Name
In the Matter of GSI Group, Inc.
Document Name
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
Document Date
13-May-2011
Document Format
Administrative Proceeding
AAER
3283
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On May 13, 2011, the SEC filed an administrative proceeding against GSI Group, Inc. The SEC alleges that "[f]rom at least 2004 through at least June 2008, GSI improperly recognized revenue on certain transactions even though revenue recognition was prohibited pursuant to generally accepted accounting principles. The improper revenue recognition resulted in part from a deficient system of internal controls." The SEC accepted a settlement offer from the company that provides that the company will cease and desist from further violations of the Exchange Act.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
