Defendant Name:
Gentex Corporation
Defendant Type:
Public Company
SIC Code:
3710
CUSIP:
37190110
Document Reference:
34-96819
Document Details
Legal Case Name
In the Matter of Gentex Corporation and Kevin C. Nash
Document Name
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
Document Date
07-Feb-2023
Document Format
Administrative Proceeding
AAER
4373
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On February 7, 2023, the SEC instituted settled cease-and-desist proceedings against Gentex Corporation and Kevin C. Nash, stating: "This matter involves deficiencies in Gentex’s accounting for its executive and
employee bonus compensation programs from the third quarter of 2015 through the second quarter of 2018 (the “Relevant Period”). These deficiencies were caused by an ineffective system of internal accounting controls, which made it possible for the company’s then-Chief Accounting
Officer, Nash, and others in the accounting group, to make certain adjustments to the bonus
compensation accruals without the required accounting analysis or without adequate supporting
documentation."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$4,000,000.00
Shared:
Other Defendants in Action:
