Defendant Name: GTT Communications, Inc.

Defendant Type: Public Company

Document Reference: 2023-195

Document Details

Legal Case Name In the Matter of GTT Communications, Inc.
Document Name SEC Charges GTT Communications for Disclosure Failures
Document Date 25-Sep-2023
Document Format Administrative Proceeding
File Number 3-21708
Allegation Type Issuer Reporting and Disclosure
Document Summary On September 25, 2023, the SEC stated that: "[It] charged GTT Communications, Inc. with failing to disclose material information about unsupported adjustments the company made in several Commission filings, which increased GTT’s reported operating income by at least 15 percent in three quarters from 2019 through 2020. The SEC’s order credits GTT with promptly self-reporting, undertaking affirmative remedial measures, and providing substantial cooperation to the SEC, and does not order a civil penalty against GTT."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC

Related Documents:

33-11241 25-Sep-2023 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 September 25, 2023, the SEC instituted settled cease-and-desist proceedings against GTT Communications, Inc., stating: "GTT made materially misleading statements and omissions relating to Cost-ofRevenue (“COR”)in certain 2019 and 2020 Exchange Act annual, quarterly, and current reports. COR, referred to by GTT in public filings as Cost of Telecommunications Services, represents direct costs incurred by GTT in providing telecommunications services to its customers and is GTT’s largest operating expense."