Defendant Name:
Advanced Drainage Systems, Inc.
Defendant Type:
Public Company
SIC Code:
3084
CUSIP:
00790R10
Document Reference:
33-10517
Document Details
Legal Case Name
In the Matter of Advanced Drainage Systems, Inc. and Mark B. Sturgeon, CPA
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934, and Rule 102(e) of the Commission's Rules of Practice, Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
10-Jul-2018
Document Format
Administrative Proceeding
AAER
3949
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On July 10, 2018, the SEC instituted an order against Advanced Drainage Systems, Inc., stating: "Advanced Drainage Systems, Inc. ("ADS" or the "Company") is an Ohio-based manufacturer of corrugated plastic pipe and drainage systems. In July 2014, following an initial public offering ("IPO") of its shares pursuant to a registration statement filed with the Commission, ADS became a public reporting company. In its registration statement and in quarterly and other reports filed with the Commission, ADS materially misstated its financial results for fiscal years 2013, 2014, and 2015, and its quarterly financial results for fiscal years 2014 and 2015."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$1,000,000.00
Shared:
Other Defendants in Action:
