Defendant Name: Polycom, Inc.

Defendant Type: Public Company

Document Reference: 2015-53

Document Details

Legal Case Name In the Matter of Polycom, Inc.
Document Name SEC Charges Former Polycom CEO With Hiding Perks From Investors
Document Date 31-Mar-2015
Document Format Administrative Proceeding
File Number 3-16464
Allegation Type Issuer Reporting and Disclosure
Document Summary On March 31, 2015, the SEC charged the former CEO of Polycom, Inc. with using approximately $200,000 in corporate funds for personal perks that were not disclosed to investors. The SEC separately charged Polycom, Inc. in an administrative order which found that "the company had inadequate internal controls and failed to report Miller's perks to investors."

Related Documents:

34-74613 31-Mar-2015 Administrative Proceeding
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
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."

Related Actions:

SEC v. Andrew M. Miller
Andrew M. Miller