Defendant Name:
Polycom, Inc.
Defendant Type:
Public Company
SIC Code:
3660
CUSIP:
73172K10
Document Reference:
34-74613
Document Details
Legal Case Name
In the Matter of Polycom, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings and Imposing a Cease-and-Desist Order
Document Date
31-Mar-2015
Document Format
Administrative Proceeding
AAER
3645
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On March 31, 2015, the SEC instituted settled administrative proceedings against Polycom, Inc. According to the SEC, Polycom's CEO Andrew Miller charged at least approximately $190,000 in personal personal expenses without disclosing the expenses as compensation to Miller on the company's definitive proxy statement. As a result, Polycom "omitted from its compensation disclosures at least the following amounts of Miller's personal expenses, by year: $15,345 in 2010; $28,478 in 2011; $115,683 in 2012; and $30,474 in 2013."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$750,000.00
Shared:
