Defendant Name: Broadwind Energy, Inc.

Defendant Type: Public Company
SIC Code: 2836
CUSIP: 11161T20

Document Reference: court_doc18_15-cv-01142

Document Details

Legal Case Name SEC v. Broadwind Energy, Inc., J. Cameron Drecoll, and Stephanie K. Kushner
Document Name Final Judgment as to Defendant Broadwind Energy, Inc.
Document Date 11-Feb-2015
Document Format Civil Proceeding
Case Number 15-cv-01142
Federal District Court Illinois, Northern District of Illinois
Federal District Judge Milton I. Shadur
Allegation Type Issuer Reporting and Disclosure
Document Summary The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Broadwind Energy, Inc. ("Broadwind" or "Defendant") having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment..."

Disgorgement & Penalty Information

Resolutions
Enjoinment
Monetary Penalties:

Civil Penalty

Individual:     $1,000,000.00 Shared:    

Related Documents:

comp-pr2015-24 05-Feb-2015 Complaint
Complaint
On February 5, 2015, the SEC filed a complaint against Broadwind Energy and its then-CEO (J. Cameron Drecoll) and CFO (Stephanie K. Kushner). The SEC alleges that Broadwind Energy engaged in accounting and disclosure violations "arising from its failure to record and disclose a $58 million impairment charge prior to a public offering in January 2010 ... caused by the severe deterioration of the two most significant customer relationships at its largest subsidiary, Brad Foote Gear Works, Inc."
2015-24 05-Feb-2015 Press Release--Civil Action
SEC Charges Chicago-Area Alternative Energy Company for Accounting and Disclosure Violations
On February 5, 2015, the SEC filed a civil action against Broadwind Energy, its then-CEO (J. Cameron Drecoll), and its CFO (Stephanie K. Kushner). Among other things, the SEC alleged that Broadwind engaged in accounting and disclosure violations when the company failed to disclose that it anticipated substantial impairment of intangible assets associated with reduced business from two significant customers. This failure to disclose affected a public offering by Broadwind.

Other Defendants in Action:

J. Cameron Drecoll
Stephanie K. Kushner

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