Defendant Name:
China Valves Technology, Inc.
Defendant Type:
Public Company
Document Reference:
LR-23266
Document Details
Legal Case Name
SEC v. China Valves Technology, Inc., et al.
Document Name
SEC Obtains Final Judgments Against China Valves Technology, Inc. and Two Senior Officers in Fraud Case
Document Date
20-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 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."
Disgorgement & Penalty Information
Other Defendants in Action:
