On October 17, 2016, the SEC charged Lime Energy Co. ("Lime" or the "Company"), an energy services provider, and four of its former executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets. According to the SEC's complaint filed in the United States District Court for the Southern District of New York, "Defendant Lime Energy Co. improperly recognized millions of dollars of revenue earlier than appropriate under generally accepted accounting principles ('GAAP') and millions of dollars of non-existent revenue, and in publicly filed quarterly and annual reports that misstated a total of more than $33 million of such revenue."

On October 18, 2016, District Court Judge Andrew L. Carter, Jr. entered the Final Judgment as to Defendant Lime Energy Co. ("Lime" or "Defendant"). Without admitting or denying the SEC's allegations, Lime consented to the entry of the Final Judgment, which incorporated the undertakings and agreements set forth in the Defendant's Consent and enjoined the company from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934, and Rules 10b-5, 13a-1, and 13a-13 promulgated thereunder. In addition, the Final Judgment ordered Defendant to pay a civil penalty in the amount of $1,000,000.

On October 17 the SEC announced that it "charged an energy services provider and four executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets."