Defendant Name:
Rica Foods, Inc.
Defendant Type:
Public Company
SIC Code:
2015
CUSIP:
76258220
Document Reference:
complaint_08-cv-23546
Document Details
Legal Case Name
SEC v. Rica Foods, Inc. and Calixto Chaves
Document Name
Complaint for Injunctive and Other Relief
Document Date
29-Dec-2008
Document Format
Civil Proceeding
Case Number
08-cv-23546
Federal District Court
Florida, Southern District of Florida
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The SEC stated: "Calixto Chaves, while serving as Chief Executive Officer ("CEO") of Rica Foods, Inc. ("Rica"), engaged in pervasive self-dealing. . . . Although its most senior executive officer was consummating millions of dollars in related-party transactions, Rica failed to disclose the transactions and encumbrances in the annual and quarterly reports and financial statements the company filed with the Commission between 2000 and 2005. Moreover, Rica significantly misstated its assets, stockholders' equity, and net income (loss) on its financial statements by improperly recording the value of the assets it purchased from Chaves and his family."
Other Defendants in Action: