Defendant Name: CIRCOR International, Inc.

Defendant Type: Public Company

Document Reference: 2024-116

Document Details

Legal Case Name In the Matter of CIRCOR International Inc.
Document Name SEC Charges Former Finance Director at CIRCOR International with Accounting Fraud
Document Date 05-Sep-2024
Document Format Administrative Proceeding
File Number 3-22074
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC stated: "CIRCOR . . . failed to devise and maintain sufficient internal accounting controls concerning financial statement preparation, reconciliation processes, and access to bank accounts."

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:

34-100934 05-Sep-2024 Administrative Proceeding
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
On September 5, 2024, the SEC instituted settled cease-and-desist proceedings against CIRCOR International, Inc., stating: "This matter involves financial reporting, books and records, and internal accounting controls failures by CIRCOR, a Massachusetts-based formerly publicly traded company. Between 2019 and 2021, CIRCOR failed to devise and maintain a sufficient system of internal accounting controls, which, in turn, permitted a former finance director at a United Kingdom-based subsidiary to manipulate CIRCOR's books and records by artificially inflating its net assets and operating income by millions of dollars. CIRCOR's management failed to detect the former finance director's misconduct for several years because of the company's deficient control environment. During that time, CIRCOR filed numerous materially misstated financial statements with the Commission that were included in various periodic reports."

Related Actions:

SEC v. Nicholas Bowerman
Nicholas Bowerman