Defendant Name: Rollins, Inc.

Defendant Type: Public Company

Document Reference: 2022-64

Document Details

Legal Case Name In the Matter of Rollins, Inc. and Paul Edward Northen
Document Name Atlanta-Based Pest Control Company, Former CFO Charged with Improper Earnings Management
Document Date 18-Apr-2022
Document Format Administrative Proceeding
File Number 3-20824
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC "announced that Rollins Inc. agreed to pay $8 million to settle charges that it engaged in improper accounting practices in order to boost its publicly-reported quarterly earnings per share (EPS) to meet research analysts’ consensus estimates."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $8,000,000.00 Shared:    

Related Documents:

33-11052 18-Apr-2022 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings and Imposing a Cease-and-Desist Order
On April 18, 2022, the SEC instituted cease-and-desist proceedings against Rollins, Inc., and Paul Edward Northen, stating: "This matter involves improper earnings management practices by Rollins, Inc. (“Rollins”). During the quarterly close process in two quarters—the first quarter of 2016 and the second quarter of 2017—Rollins’ then-Chief Financial Officer, Paul Edward Northen, directed reductions to certain corporate-level accounting reserves for the purpose of enabling the company to publicly report earnings per share (“EPS”) in line with research analysts’ consensus estimates."

Other Defendants in Action:

Paul Edward Northen