Defendant Name: China Valves Technology, Inc.

Defendant Type: Public Company

Document Reference: court_doc20_14-cv-01630

Document Details

Legal Case Name SEC v. China Valves Technology, Inc., Siping Fang, Jianbao Wang, and Renrui Tang
Document Name Final Judgment as to Defendant China Valves Technology, Inc.
Document Date 14-May-2015
Document Format Civil Proceeding
Case Number 14-cv-01630
Federal District Court District of Columbia, District of Columbia
Federal District Judge Reggie B. Walton
Allegation Type Issuer Reporting and Disclosure
Document Summary On May 13, 2015, Federal District Judge Reggie B. Walton entered final judgement against China Valves Technology, Inc. pursuant to the consent of China Valves Technology, Inc.

Disgorgement & Penalty Information

Resolutions
Enjoinment
Monetary Penalties:

Civil Penalty

Individual:     $575,000.00 Shared:    

Related Documents:

comp23096 29-Sep-2014 Complaint
Complaint
On September 29, 2014, the SEC filed a complaint against China Valves Technology, Inc., and three of its senior officers in federal district court in the District of D.C. The complaint alleges that "[d]efendants misled investors about the true nature and price of [the company's] 2010 acquisition of Changsha Valve. In addition, in 2011, [the company] mischaracterized and materially overstated income and understated liabilities incurred by a wholly-owned subsidiary."
LR-23096 29-Sep-2014 Litigation Release
SEC Charges China Valves Technology, Inc. and Three Senior Officers with Fraud
On September 29, 2014, the SEC announced that it charged China Valves Technology, Inc. and three senior officers with fraud.
LR-23266 20-May-2015 Litigation Release
SEC Obtains Final Judgments Against China Valves Technology, Inc. and Two Senior Officers in Fraud Case
On May 20, 2015, the SEC announced that on May 13, 2015, the U.S. District Court for the District of Columbia entered final judgment against China Valves Technologies, Inc., in addition to its former chairman and CEO and its CFO. According to the SEC: "China Valves, Fang, Tang, and Jianbao Wang, China Valves's former CEO, intentionally misled investors about the nature of China Valves's 2010 acquisition of Watts Valve Changsha Co., Ltd. in an effort to mask the subsidiary's prior investigation of violations of the Foreign Corrupt Practices Act and China Valves's decision to pay sales commissions to employees that potentially violated the FCPA."

Other Defendants in Action:

Renrui Tang
Siping Fang
Jianbao Wang

Related Actions:

In the Matter of Renrui Tang
Renrui Tang
In the Matter of Frazer Frost, LLP; Susan Woo, CPA; and Miranda Suen, CPA
Frazer Frost, LLP
Susan Woo, CPA
Miranda Suen, CPA