Defendant Name: Koss Corporation

Defendant Type: Public Company

Document Reference: LR-22279

Document Details

Legal Case Name SEC v. Koss Corporation and Michael J. Koss
Document Name District Judge Approves SEC Settlement with Koss Corporation and Michael J. Koss, Its CEO and Former CFO
Document Date 09-Mar-2012
Document Format Civil Proceeding
Case Number 11-cv-00991
Federal District Court Wisconsin, Eastern District of Wisconsin
Federal District Judge Rudolph T. Randa
AAER 3368
Allegation Type Issuer Reporting and Disclosure
Document Summary On March 9, 2012, the SEC announced that: "On February 22, 2012, the Honorable Rudolph T. Randa, U.S. District Judge for the Eastern District of Wisconsin, approved the settlement of the Securities and Exchange Commission's Complaint against Koss Corporation ('Koss'), located in Milwaukee, Wisconsin, and Michael J. Koss, its CEO and former CFO. The case is based on Koss Corporation's preparation of materially inaccurate financial statements, book and records, and lack of adequate internal controls from fiscal years 2005 through 2009."

Disgorgement & Penalty Information

Resolutions
Injunction
Enjoinment
Cooperation Before the Resolution

Related Documents:

comp22138 24-Oct-2011 Complaint
Complaint
The SEC filed a complaint on October 24, 2011. The SEC alleged that Koss prepared materially inaccurate "financial statements, books and records" and that Koss had a "lack of adequate internal controls from fiscal years 2005 through 2009." In particular the SEC alleged that "Sujata Sachdeva ("Sachdeva"), Koss's former Principal Accounting Officer, Secretary and Vice-President of Finance, and Julie Mulvaney ("Mulvaney"), Koss's former Senior Accountant, engaged in a wide-ranging accounting fraud to cover up Sachdeva's embezzlement of over $30 million from Koss."
LR-22138 24-Oct-2011 Litigation Release
SEC Files Complaint and Proposed Settlement Against Koss Corporation and Michael J. Koss, its CEO and Former CFO, Who has Agreed to Reimburse Incentive-Based Compensation
On October 24, 2011, the SEC issued a litigation release describing the complaint against Koss Corporation and Michael J. Koss.
court_doc10_11-cv-00991 23-Feb-2012 Court Docket Document
Final Judgment as to Defendant Koss Corporation
On January 2, 2015, the Court entered Final Judgment as to defendant Koss Corporation. Koss Corporation consented to the entry of the Final Judgment without admitting or denying the allegations of the SEC's complaint.

Other Defendants in Action:

Michael J. Koss

Related Actions:

SEC v. Sujata Sachdeva and Julie Mulvaney
Sujata Sachdeva
Julie Mulvaney
In the Matter of Sujata Sachdeva
Sujata Sachdeva