Defendant Name:
Krispy Kreme Doughnuts, Inc.
Defendant Type:
Public Company
SIC Code:
5461
CUSIP:
50101410
Document Reference:
34-59499
Document Details
Legal Case Name
In the Matter of Krispy Kreme Doughnuts, 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
04-Mar-2009
Document Format
Administrative Proceeding
AAER
2941
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On march 4, 2009, the SEC instituted settled cease-and-desist proceedings against Krispy Kreme Doughnuts, Inc., stating: "Between approximately February 2003 and May 2004, Krispy Kreme fraudulently
inflated or otherwise misrepresented its earnings for the fourth quarter of its 2003 fiscal year,
which ended on February 2, 2003, and each quarter of its 2004 fiscal year, and its full year
results for fiscal 2004, which ended on February 1, 2004. By this misconduct, the Respondent
avoided lowering its earnings guidance and improperly reported for each of those quarters what
had become a prime benchmark of its historical performance, i.e., reporting quarterly earnings
per share of common stock (“EPS”) that exceeded its previously announced EPS guidance by
one cent."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various Undertakings: Undertakings: "Respondent shall cooperate fully with the Commission in any and all investigations, litigations or other proceedings relating to or arising from the matters described in the Order."
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
