Defendant Name: Evoqua Water Technologies Corp.

Defendant Type: Public Company

Document Reference: LR-25662

Document Details

Legal Case Name
Document Name SEC Charges Water Treatment Company and Former Executive with Accounting Violations
Document Date 13-Mar-2023
Document Format Civil Proceeding
Case Number 23-cv-00105
Federal District Court Rhode Island, District of Rhode Island
AAER 4390
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated that it charged "Pittsburgh, Pennsylvania-based Evoqua Water Technologies Corp. and its former division-level finance director Imran Parekh for improper accounting practices that materially misstated Evoqua's revenue reported in the company's SEC filings during 2017 and 2018."

Disgorgement & Penalty Information

Resolutions
Injunction
Enjoinment
Undertaking: "agreement to implement recommended improvements to its system of internal accounting controls"
Monetary Penalties:

Civil Penalty

Individual:     $8,500,000.00 Shared:    

Related Documents:

comp25662 13-Mar-2023 Complaint
Complaint
The SEC stated: "Beginning in 2016 and continuing at least until December 2018, Evoqua improperly counted (or “recognized”) revenue in violation of Generally Accepted Accounting Principles (“GAAP”), which is a common set of accounting principles, standards, and procedures that public companies must follow when they compile their financial statements, and is the accounting standard adopted by the Commission that must be followed by public companies in the United States."
court_doc11_23-cv-00105 10-Jul-2023 Court Docket Document
Final Judgment as to Defendant Evoqua Water Technologies Corp.
On July 10, 2023, the Court issued a final judgment against Defendant Evoqua Water Technologies Corp., stating: "Defendant Evoqua Water Technologies Corp. (“Defendant” or the “Company”) having entered a general appearance; consented to the Court’s jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Other Defendants in Action:

Imran Parekh

Related Actions:

In the Matter of Imran Parekh
Imran Parekh