Defendant Name: Ernst & Young LLP

Defendant Type: Other

Document Reference: 34-82185_3-17628

Document Details

Legal Case Name In the Matter of Ernst & Young LLP, Craig R. Fronckiewicz, CPA, and Sarah E. Adams, CPA
Document Name Order Consolidating Fair Funds
Document Date 30-Nov-2017
Document Format Administrative Proceeding
File Number 3-17628
Allegation Type Issuer Reporting and Disclosure
Document Summary

Disgorgement & Penalty Information

ORDERED that the assets of the Fair Funds created pursuant to the Orders, and any interest accrued on those assets, are consolidated into a single Fair Fund for distribution to harmed investors.
Fair Funds
Monetary Penalties:

Total Penalty

Individual:     $11,840,107.00 Shared:    

Related Documents:

2016-219 18-Oct-2016 Press Release--Administrative Proceeding
Ernst & Young to Pay $11.8 Million for Audit Failures
34-79109 18-Oct-2016 Administrative Proceeding
Order Instituting Public Administrative and Cease-and-Desist Proceedings Pursuant to Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order ("Order")
On October 18, 2016, the SEC issued a settled administrative proceeding against Ernst & Young LLP. According to the SEC: "This matter involves violations of the federal securities laws and improper professional conduct by Ernst & Young, Fronckiewicz, and Adams while serving as the external auditor, coordinating (i.e., signing) partner, and tax partner, respectively, for Weatherford International plc f/k/a Weatherford International Ltd. ('Weatherford'). In connection with its 2007-2010 financial statements, Weatherford, a large multinational provider of oil and natural gas equipment and services, issued false financial statements that inflated its earnings in violation of U.S. Generally Accepted Accounting Principles ('GAAP'). Weatherford improperly inflated its earnings and materially understated its effective"

Other Defendants in Action:

Related Actions:

In the Matter of Weatherford International plc, F/K/A Weatherford International Ltd., James Hudgins, CPA, and and Darryl Kitay, CPA