Defendant Name: Tandy Leather Factory, Inc.

Defendant Type: Public Company

Document Reference: 2021-133

Document Details

Legal Case Name In the Matter of Tandy Leather Factory, Inc. and Shannon Greene, CPA
Document Name SEC Charges Retailer and Former CEO for Accounting, Reporting, and Control Failures
Document Date 21-Jul-2021
Document Format Administrative Proceeding
File Number 3-20403
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC "announced that Fort Worth, Texas, specialty retailer Tandy Leather Factory Inc. and its former chief executive officer Shannon Greene have agreed to settle charges for accounting, reporting, and control failures that led to a multi-year restatement of the company’s financial statements."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Civil Penalty

Individual:     $200,000.00 Shared:    

Related Documents:

34-92455 21-Jul-2021 Administrative Proceeding
Order Instituting Cease and Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, Imposing Remedial Sanctions and Imposing a Cease and Desist Order
On July 21, 2021, the SEC instituted settled cease-and-desist proceedings against Tandy Leather Factory, Inc. and Shannon Greene, CPA stating: "This matter involves accounting, financial reporting, and control failures by Tandy, a specialty leather retailer headquartered in Fort Worth, Texas. These deficiencies resulted in a multi-year restatement in Tandy's financial statements concerning, among other things, inventory, net income and gross profit. Shannon Greene, Tandy's former Chief Financial Officer ("CFO") and Chief Executive Officer ("CEO"), was the person primarily responsible for the establishment, implementation, maintenance, and evaluation of Tandy's relevant controls."

Other Defendants in Action:

Shannon Greene, CPA

Related Actions:

In the Matter of James Fitts, CPA
James Fitts, CPA