Defendant Name:
Gridsum Holding Inc.
Defendant Type:
Public Company
Document Reference:
LR-26190
Document Details
Legal Case Name
SEC (Plaintiff) vs. Guosheng Qi and Gridsum Holding Inc. (Defendants), and Huijie He (Relief Defendant)
Document Name
SEC Obtains Judgment Against China-Based Big Data Analytics Company and Its CEO for Misuse and Unreported Use of IPO Proceeds and for Failing to Disclose Millions of Dollars in Related Party Payments
Document Date
10-Dec-2024
Document Format
Civil Proceeding
Case Number
23-cv-07924
Federal District Court
New York, Southern District of New York
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On December 10, 2024, the SEC "announced that on December 3, 2024, the U.S. District Court for the Southern District of New York entered a judgment against Gridsum Holding, Inc. (formerly Nasdaq: GSUM), a China-based data analytics company; its CEO Guosheng Qi; and Qi’s wife, Relief Defendant Huijie He, in an SEC case charging Qi and Gridsum with defrauding investors through their misuse and unreported use of funds raised in a 2016 U.S. initial public offering, as well as their failure to disclose millions of dollars in related-party transactions that benefitted Qi’s family members."
Disgorgement & Penalty Information
Monetary Penalties:
Civil Penalty
Individual:
$576,158.00
Shared:
Other Defendants in Action:
