Defendant Name:
Acreage Holdings, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Canopy Growth Corporation
SIC Code:
6712
CUSIP:
13803570
Document Reference:
34-102141
Document Details
Legal Case Name
In the Matter of Acreage Holdings, 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
10-Jan-2025
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 10, 2025, the SEC instituted settled cease-and-desist proceedings against Acreage Holdings, Inc., stating: "These proceedings arise out of Acreage’s failure to make and keep books, records,
and accounts in the manner required by Section 13(b)(2)(A) of the Exchange Act. In late
December 2019 and early January 2020, Acreage engaged in a round-trip transfer of cash with an affiliated but unconsolidated entity (“Entity A”) that temporarily inflated Acreage’s year-end 2019
cash balance on its internal accounting records."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Undertakings: "Cooperate fully with the Commission in any and all investigations, litigations or other proceedings relating to or arising from the matters described in the Order."
Monetary Penalties:
Civil Penalty
Individual:
$225,000.00
Shared:
