Defendant Name:
Surgalign Holdings, Inc.
Defendant Type:
Public Company
Document Reference:
2022-137
Document Details
Legal Case Name
In the Matter of Surgalign Holdings, Inc., and Robert P. Jordheim
Document Name
SEC Charges Surgical Implant Manufacturer Surgalign and Former Senior Executives with Accounting and Disclosure Fraud
Document Date
03-Aug-2022
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$2,000,000.00
Shared:
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