Defendant Name: Apogee Technology, Inc.

Defendant Type: Public Company

Document Reference: court_doc10_09-cv-10826

Document Details

Legal Case Name SEC v. Apogee Technology, Inc., David B. Meyers, and Annette Jaynes
Document Name Final Judgment as to Defendant Apogee Technology, Inc.
Document Date 22-May-2009
Document Format Civil Proceeding
Case Number 09-cv-10826
Federal District Court Massachusetts, District of Massachusetts
Federal District Judge Rya W. Zobel
Allegation Type Issuer Reporting and Disclosure
Document Summary On May 22, 2009, the Court issued a final judgment as to Defendant Apogee Technology, Inc., stating: "Defendant Apogee Technology, Inc. ("Defendant") . . . 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
Continue to employ a Principal Financial Officer who shall be a person other than Defendant's CEO or COO, and decisions concerning employment of this Principal Financial Officer shall be approved by the Audit Committee. The Principal Financial Officer shall have primary responsibility for the Defendant's financial reporting process and communications with outside advisors (to the extent they are not conducted by the Audit Committee comprised of independent members of the Defendant's Board of Directors). The Audit Committee will review with management and an independent auditor, before filing or other public release, all filings with the Commission and all financial statements otherwise made available to the public. The Audit Committee will also review and approve the Defendant's financial reporting processes and polices.

Related Documents:

comp21048 19-May-2009 Complaint
Complaint
The SEC stated: "During at least June 2003 through December 2004 ("the relevant period"), Defendants Apogee Technology, Inc. ("Apogee"), a publicly traded company based in Massachusetts, David B. Meyers('Meyers'), Apogee's former Chief Operating Officer, and Annette Ben-Menachem, who uses the name Annette Jaynes for business purposes ("Jaynes'), Apogee's Controller, engaged in a scheme to inflate the revenue and receivables reported in Apogee's financial statements filed with the Commission."
LR-21048 19-May-2009 Litigation Release
SEC Charges Massachusetts Company, Former Chief Operating Officer, and Controller in Scheme to Inflate Reported Revenue
The SEC stated that: "[It] filed a settled enforcement action against Apogee Technology, Inc., a publicly traded company based in Norwood, Massachusetts, David B. Meyers of Walpole, Massachusetts, Apogee's former Chief Operating Officer, and Annette Jaynes of Sharon, Massachusetts, Apogee's controller, in connection with a scheme to inflate Apogee's earnings in 2003 and 2004."

Other Defendants in Action:

David B. Meyers
Annette Jaynes