Defendant Name: Asta Funding, Inc.

Defendant Type: Public Company

Document Reference: 2021-76_3-20271

Document Details

Legal Case Name In the Matter of Asta Funding, Inc.
Document Name SEC Charges Eight Companies for Failure to Disclose Complete Information on Form NT
Document Date 29-Apr-2021
Document Format Administrative Proceeding
File Number 3-20271
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC stated that: "[It] charged eight companies for failing to disclose in SEC Form 12b-25 filings that their request for seeking a delayed quarterly or annual reporting filing was caused by an anticipated restatement or correction of prior financial reporting. The violations were uncovered by an initiative focused on Form 12b-25 filings by companies that quickly thereafter announced financial restatements or corrections. Each of the companies was a public reporting company at the time of the violations and agreed to settle the Commission's charges and pay civil penalties."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $50,000.00 Shared:    

Related Documents:

34-91718 29-Apr-2021 Administrative Proceeding
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
On April 29, 2021, the SEC instituted settled cease-and-desist proceedings against Asta Funding, Inc. stating: "These proceedings arise out of the violation of Exchange Act Rule 12b-25, which requires that issuers that fail to file timely a periodic report shall file a Form 12b-25 “Notification of Late Filing,” commonly known as “Form NT,” which contains, among other things, reasonable detail as to why the issuer’s periodic report could not be filed on time and an explanation of any anticipated, significant changes in the issuer’s results of operations."