Defendant Name:
Lifeway Foods, Inc.
Defendant Type:
Public Company
SIC Code:
2020
CUSIP:
53191410
Document Reference:
34-84995
Document Details
Legal Case Name
In the Matter of Lifeway Foods, 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
29-Jan-2019
Document Format
Administrative Proceeding
AAER
4016
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 29, 2019, the SEC issued an order against Lifeway Foods, Inc. stating: "These proceedings involve violations of the federal securities laws in connection with the Respondent's Internal Control over Financial Reporting ("ICFR"). Respondent failed to create and implement effective ICFR for ten consecutive annual reporting periods and failed to complete in certain periods the required management assessment of internal controls. In addition, Respondent announced three financial statement restatements during the period from 2007 to 2016."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$100,000.00
Shared: