Defendant Name:
Healthcare Services Group, Inc.
Defendant Type:
Public Company
SIC Code:
7340
CUSIP:
42190610
Document Reference:
33-10967
Document Details
Legal Case Name
In the Matter of Healthcare Services Group, Inc., John C. Shea, CPA, and Derya D. Warner
Document Name
Order Instituting Public Administrative and Cease-and-Desist Proceeding Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934, and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
24-Aug-2021
Document Format
Administrative Proceeding
AAER
4244
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On August 24, 2021, the SEC instituted settled public administrative and cease-and-desist proceedings against Healthcare Services Group, Inc., John C. Shea, CPA, and Derya D. Warner stating: "This matter involves the failure of Healthcare Services Group, Inc. ("HCSG") to
properly accrue for or disclose loss contingencies relating to pending civil litigation in violation of
generally accepted accounting principles ("GAAP"), resulting in the reporting of inflated net
income and earnings per share ("EPS") in certain periods."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$6,000,000.00
Shared:
Other Defendants in Action: