Defendant Name:
Hudson Highland Group, Inc.
Defendant Type:
Public Company
SIC Code:
7360
CUSIP:
44379210
Document Reference:
34-63688
Document Details
Legal Case Name
In the Matter of Hudson Highland 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 and a Penalty
Document Date
10-Jan-2011
Document Format
Administrative Proceeding
AAER
3226
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 10, 2011, the SEC filed settled administrative proceeding against Hudson Highland Group, Inc. According to the SEC: "This matter involves Hudson's failures to maintain appropriate internal controls and books and records relating to its sales tax liabilities. From the time of Hudson's spin-off in 2003 until 2007, Hudson's North America segment ('HNA') failed to consistently comply with tax laws that required the company to collect sales taxes from its customers and to remit them to the taxing jurisdictions. The reason for these failures is that HNA did not have accounting software capable of calculating the amounts of sales taxes owed. The sales tax laws mandated that if HNA failed to collect and remit the taxes as required, and if HNA's customers did not otherwise pay the taxes, HNA became liable for the outstanding sales taxes, plus potential interest and penalties. HNA's failures to consistently collect and remit the required taxes ultimately required Hudson to pay substantially all of the uncollected taxes ($3.9 million) itself."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$200,000.00
Shared:
