Defendant Name: Koppers Holdings Inc.

Defendant Type: Public Company

Document Reference: 33-11129-s

Document Details

Legal Case Name In the Matter of Koppers Holdings Inc.
Document Name SEC Charges Koppers Holdings Inc. for Materially Misleading Statements Regarding Non-Gaap Financial Measures
Document Date 01-Nov-2022
Document Format Administrative Proceeding
File Number 3-21223
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC "announced settled charges against Koppers Holdings Inc. ("Koppers") for failing to disclose material information about two non-GAAP financial measures the company highlighted regarding its debt reduction efforts. Specifically, the Commission's Order finds that Koppers failed to disclose that it achieved its debt reduction targets by withholding substantial past-due vendor payments in its 2019 fiscal year."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $1,300,000.00 Shared:    

Related Documents:

33-11129 01-Nov-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 November 1, 2022, the SEC instituted settled cease-and-desist proceedings against Koppers Holdings, stating: "This matter concerns Koppers’ failure to disclose material information about its debt reduction efforts that rendered statements it made materially misleading during fiscal year 2019."