Defendant Name: The Lovesac Company

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 54738L10

Document Reference: comp26166

Document Details

Legal Case Name SEC v. Donna Dellomo, Yoon Um, and The Lovesac Company
Document Name Complaint
Document Date 29-Oct-2024
Document Format Civil Proceeding
Case Number 24-cv-01727
Federal District Court Connecticut, District of Connecticut
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated: "This case involves fraudulent accounting treatment of approximately $2.2 million in shipping expenses that led to materially misleading financial statements being filed with the Commission and made available to the investing public."

Related Documents:

LR-26166 29-Oct-2024 Litigation Release
SEC Charges Furniture Company and Two Former Executives with Accounting Violations
On October 29, 2024, the SEC stated "that it filed charges against Connecticut-based publicly traded furniture retailer The Lovesac Company, Donna Dellomo, CPA, Lovesac’s former CFO, and YoonUm, CPA, Lovesac’s former controller, for accounting violations in connection with expenses Lovesac incurred shipping its furniture to customers. Lovesac has agreed to a settlement to resolve the claims against it by, among other things, paying a civil penalty of $1.5 million."

Other Defendants in Action:

Donna Dellomo
Yoon Um