Defendant Name: Advanced Drainage Systems, Inc.

Defendant Type: Public Company
SIC Code: 3084
CUSIP: 00790R10

Document Reference: 33-10517-s

Document Details

Legal Case Name In the Matter of Advanced Drainage Systems, Inc. and Mark B. Sturgeon, CPA
Document Name SEC Charges Pipe Manufacturer and Former CFO with Reporting and Accounting Violations
Document Date 10-Jul-2018
Document Format Administrative Proceeding
File Number 3-18582
Allegation Type Issuer Reporting and Disclosure
Document Summary On July 10, 2018, the SEC issued a release regarding SEC charges against Advanced Drainage Systems, Inc. ("ADS"), stating: "According to the SEC's order instituting administrative proceedings, ADS materially misstated its financial results for fiscal years 2013, 2014, and 2015, and its quarterly financial results for fiscal years 2014 and 2015 in its registration statement and in quarterly and other reports filed with the Commission."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $1,000,000.00 Shared:    

Related Documents:

33-10517 10-Jul-2018 Administrative Proceeding
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
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."

Other Defendants in Action:

Mark Sturgeon, CPA