Related Documents:
33-11088
03-Aug-2022
Administrative Proceeding
Order Instituting Public Administrative and Cease-and-Desist Proceedings 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
On August 3, 2022, the SEC instituted public administrative and cease-and-desist proceedings against Surgalign Holdings, Inc., and Robert P. Jordheim, stating: "From 2015 through 2019, RTI shipped orders weeks or months before its customers
had originally requested delivery, thereby pulling sales forward from future quarters, to address
projected quarterly revenue shortfalls."
2022-137
03-Aug-2022
Press Release--Administrative Proceeding
SEC Charges Surgical Implant Manufacturer Surgalign and Former Senior Executives with Accounting and Disclosure Fraud
The SEC stated that: "[It] charged Surgalign Holdings,
Inc., formerly RTI Surgical Holdings, Inc., and former executives Brian Hutchison and Robert Jordheim for masking
disappointing sales numbers by shipping future orders ahead of schedule to accelerate, or “pull forward,” revenue
and then failing to disclose this practice to investors. In June 2020, RTI restated its public financial statements from
2014 through 2019 to correct errors caused by this practice."
34-96010
07-Oct-2022
Administrative Proceeding
Extension Order
The Commission ordered that: "the Division’s request for an extension of time until October 7, 2023 to submit a Proposed Plan of Distribution is granted."
34-96997
01-Mar-2023
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-98600
28-Sep-2023
Administrative Proceeding
Order Appointing Fund Administrator, Setting Administrator's Bond Amount, and Authorizing Payment of Fees and Expenses
The Commission ordered that: "A. Epiq is appointed as the Fund Administrator, . . . B. Epiq shall obtain a bond . . . in the amount of $2,075,000.00."
34-101756
26-Nov-2024
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the "Proposed Plan") for the distribution of monies collected in the above-captioned matter."
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties paid by Surgalign Holdings, Inc. (formerly known as RTI Surgical Holdings, Inc. and RTI Surgical, Inc.) (“Surgalign”) and Robert P. Jordheim (“Jordheim”) (collectively, the “Respondents”) in the above-captioned matter."
34-102236
17-Jan-2025
Administrative Proceeding
Order Extending Time to Enter Order Approving or Disapproving Plan of Distribution
The Commission ordered that: "for good cause shown, the time for entering an order approving or disapproving the Plan is extended to March 31, 2025."
Plan of Distribution
The SEC stated: "The Division of Enforcement submits this Plan of Distribution . . . . [T]he plan seeks to compensate investors who were harmed by the Respondents' conduct described in the Order, in connection with Respondents' premature recognition of revenue, in violation of generally accepted accounting principles (GAAP) . . . . The Plan is approved by the Commission, and the Commission retains jurisdiction over its implementation."
