Defendant Name:
Mercantile Bancorp, Inc.
Defendant Type:
Public Company
Document Reference:
LR-22817
Document Details
Legal Case Name
SEC v. Mercantile Bancorp, Inc.
Document Name
SEC Charges Two Bank Executives for Financial Misstatements and Failure to Disclose Probable Loss on Troubled Loan
Document Date
26-Sep-2013
Document Format
Civil Proceeding
Case Number
13-cv-03341
Federal District Court
Illinois, Central District of Illinois
AAER
3493
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 26, 2013, the SEC issued a litigation release announcing that it changed Mercantile Bancorp, Inc. and two of its executives for failure to disclose probable loss on troubled loan. According to the SEC, Mercantile and the two executives "consented to the entry of final judgments without admitting or denying the SEC's allegations. In addition to the monetary sanctions and officer and director bars against Awerkamp and McGrath, they agreed to be permanently enjoined from future violations of these provisions of the securities laws."
Other Defendants in Action: