Defendant Name: Conn's Inc.

Defendant Type: Public Company

Document Reference: court_doc6_19-cv-02534

Document Details

Legal Case Name SEC v. Conn's, Inc. and Michael J. Poppe
Document Name Final Judgment as to Defendant Conn's, Inc.
Document Date 16-Jul-2019
Document Format Civil Proceeding
Case Number 19-cv-02534
Federal District Court Texas, Southern District of Texas
Federal District Judge Sim Lake
Allegation Type Issuer Reporting and Disclosure
Document Summary

Disgorgement & Penalty Information

Resolutions
Enjoinment
Monetary Penalties:

Civil Penalty

Individual:     $1,100,000.00 Shared:    

Related Documents:

LR-24532 15-Jul-2019 Litigation Release
SEC Charges Conn's Inc. and Its Former COO for Improper Accounting Practices
The Commission stated: "The Securities and Exchange Commission today announced settled charges against Conn's Inc., a Texas-based specialty retailer that offers consumer goods and credit financing primarily to credit-restrained customers, and its former Chief Operating Officer for improper accounting practices."
comp24532 15-Jul-2019 Complaint
Complaint
The Commission stated: "From the second quarter of fiscal 2013 through the second quarter of fiscal 2015 . . . Defendants understated the allowance for doubtful accounts and overstated income on Conn's financial statements. These errors resulted from: (1) Conn's use of a model to forecast its allowance for doubtful accounts that included management bias; and (2) the negligent application of that model by Conn's management, including Poppe, then the Chief Operating Officer of Conn's."

Other Defendants in Action:

Michael J. Poppe