Defendant Name:
Manitex International, Inc.
Defendant Type:
Public Company
SIC Code:
3537
CUSIP:
56342010
Document Reference:
33-10860
Document Details
Legal Case Name
In the Matter of Manitex International, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
29-Sep-2020
Document Format
Administrative Proceeding
AAER
4177
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 29, 2020, the SEC instituted settled cease-and-desist proceedings against Manitex International, Inc. The Commission stated: "This matter involves financial and accounting fraud by senior officers and employees at Manitex, a publicly-traded company that manufactures and distributes cranes, forklifts and other heavy equipment and machinery. During downturns in Manitex’s business, certain of Manitex’s officers and employees engaged in two distinct, fraudulent schemes involving the use of related party entities to engage in fraudulent accounting practices."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Various Undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$350,000.00
Shared:
