Defendant Name:
Leaf Group Ltd.
Defendant Type:
Subsidiary of Public Company
Document Reference:
34-93929-s
Document Details
Legal Case Name
In the Matter of Leaf Group, LTD.
Document Name
SEC Charges Lifestyle E-Commerce Company for Failing to Evaluate and Disclose Board Member's Lack of Independence
Document Date
07-Jan-2022
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The SEC "announced settled charges against formerly
publicly-traded Leaf Group Ltd. for failing to adequately evaluate and disclose in its annual proxy statement the
lack of independence of a director and a board committee as well as an "interlocking" board-of-directors
relationship between that director and Leaf's Chief Executive Officer. SEC reporting rules require public companies
to disclose interlocking relationships that impede independence, including when an executive officer serves as a
member of the compensation committee of another entity, one of whose executive officers serves as a director of
the issuer."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$325,000.00
Shared: