Defendant Name: Exela Technologies, Inc.

Defendant Type: Public Company

Document Reference: 34-96535-s

Document Details

Legal Case Name In the Matter of Exela Technologies, Inc. and James G. Reynolds
Document Name SEC Charges Exela Technologies, Former CFO for Reporting and Controls Failures
Document Date 19-Dec-2022
Document Format Administrative Proceeding
File Number 3-21256
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC "announced settled charges against Exela Technologies, Inc., an IT company headquartered in Irving, Texas, for reporting, controls, and recordkeeping violations. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G.Reynolds, with causing Exela's reporting violations in one quarter relating to two related party transactions."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $175,000.00 Shared:    

Related Documents:

34-96535 19-Dec-2022 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On December 19, 2022, the SEC instituted settled cease-and-desist proceedings against Exela Technologies, Inc. and James G. Reynolds, stating: "This matter involves accounting, financial reporting and controls deficiencies by Exela, a business process automation company headquartered in Irving, Texas. These deficiencies led to a multi-year restatement of Exela’s financial statements concerning, among other things, its failure to properly account for and report its exposure to a shareholder lawsuit and to disclose and account for related party transactions. Reynolds, Exela’s former Chief Financial Officer, caused Exela’s failure to properly report two related party transactions in one quarter."

Other Defendants in Action:

James Reynolds