Defendant Name:
National Energy Services Reunited Corp.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
G6375R10
Document Reference:
34-100845
Document Details
Legal Case Name
In the Matter of National Energy Services Reunited Corp.
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
28-Aug-2024
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On August 28, 2024, the SEC instituted settled cease-and-desist proceedings against National Energy Services Reunited Corp., stating: "This matter involves financial reporting, accounting, and controls failures by
National Energy, a former special purpose acquisition company ("SPAC")."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
The Commission ordered that: "If Respondent fails to comply with the undertakings enumerated in Paragraph 22 above, Respondent shall, within ninety (90) days after one year from the date of this Order, pay an additional civil money penalty in the amount of $1,200,000."
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$400,000.00
Shared:
