Defendant Name:
Compass Minerals International, Inc.
Defendant Type:
Public Company
SIC Code:
1479
CUSIP:
20451N10
Document Reference:
33-11107
Document Details
Legal Case Name
In the Matter of Compass Minerals International, Inc.
Document Name
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
Document Date
23-Sep-2022
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 23, 2022, the SEC instituted settled cease-and-desist proceedings against Compass Minerals International, Inc., stating: "This case involves various disclosure violations by Compass Minerals. From 2017
to 2018, Compass made repeated misrepresentations about its plans to reduce costs and about the production levels at its Goderich salt mine. These misrepresentations were the consequence of a deficient disclosure process at the company in which statements to investors were not reviewed by
personnel who were sufficiently knowledgeable about both Compass’s operations and its
disclosure obligations. The failures in Compass’s disclosure controls and procedures resulted not only in material misstatements about the mine, but in the company’s senior management not having sufficient information about environmental issues caused by a facility it owned in Brazil to make appropriate determinations about disclosures."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Compliance Related Independent Consultant
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$12,000,000.00
Shared: