Defendant Name:
Allion Healthcare, Inc.
Defendant Type:
Public Company
SIC Code:
8099
CUSIP:
01961510
Document Reference:
34-59594
Document Details
Legal Case Name
In the Matter of Allion Healthcare, Inc. and James G. Spencer
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
18-Mar-2009
Document Format
Administrative Proceeding
AAER
2951
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On March 18, 2009, the SEC instituted settled cease-and-desist proceedings against Allion Healthcare, Inc. and James G. Spencer. The SEC stated: "This matter concerns Allion’s failure to properly record and report two significant
warrant grants made during the second quarter of 2005. Because Allion failed to recognize interest
expense for the warrants in conformity with Generally Accepted Accounting Principles (“GAAP”),
the company materially overstated its net income and understated its loss per share when reporting
results for the second quarter of 2005 and the nine months ended September 30, 2005. Allion
restated its results in March 2006 after the company’s independent auditor inquired about the
errors."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Other Defendants in Action:
