Defendant Name:
LSB Industries, Inc.
Defendant Type:
Public Company
SIC Code:
2819
CUSIP:
50216010
Document Reference:
34-100973
Document Details
Legal Case Name
In the Matter of LSB Industries, Inc.
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
09-Sep-2024
Document Format
Administrative Proceeding
Allegation Type
Other
Document Summary
On September 9, 2024, the SEC instituted settled cease-and-desist proceedings against LSB Industries, Inc., stating: "As a regular part of its business, LSB enters into employment agreements with
certain new employees and general release agreements with certain departing employees. These
agreements define the rights and responsibilities of the company and the employee during the
employment relationship and after the employee’s departure. . . . [T]hese provisions created
impediments to participation in the Commission’s whistleblower program by having the
employees forego the critically important financial incentives that are intended to encourage
persons to communicate directly with the Commission staff about possible securities law
violations."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$156,000.00
Shared:
