SEC Investigation. Promptly, and in any event within five Business Days after receipt thereof by the Borrower or any Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other operational results of the Borrower or any Subsidiary thereof;
SEC Investigation. On July 24, 2008, the Company received a letter from the U.S. Securities and Exchange Commission Division of Enforcement (“SEC”) stating that the SEC was conducting an informal inquiry into accounting matters related to ArthroCare Corporation arising out of the Company’s announced restatement of financial results. On February 9, 2009, the SEC issued a formal order of investigation.
SEC Investigation. The Company has received a subpoena issued pursuant to a formal order of investigation by the United States Securities and Exchange Commission, dated January 28, 2014. The subpoena seeks documents about, among other subject matters, the progress at its Columbus, Mississippi facility and the timing of projected biofuel production levels. The Company’s document production in response to the subpoena is ongoing.
SEC Investigation. The staff of the SEC is in the process of conducting a formal investigation involving Parent. The Formal Order of Investigation indicates that the staff is investigating certain registration statements filed by Parent in 2002 and 2003 by which shares of Parent Common Stock were issued to consultants. The staff also appears to be investigating whether officers, directors and others made misrepresentations in certain of Parent's press releases regarding planned mergers and acquisitions that were never consummated. The investigation is ongoing. The staff has not indicated whether it will or will not recommend that the Commission file an enforcement action against Parent, it officers or directors, or others. If the SEC brings an action against Parent based on the registration statements it could result in a civil injunctive order or administrative cease and desist order being entered against Parent in addition to the imposition of a significant civil penalty. If the Commission brings an action based on alleged material misrepresentations, it could result in civil injunctions and civil penalties being assessed against Parent or persons formerly or currently affiliated with it that are alleged to have been involved in the misrepresentations.
SEC Investigation. Tek and Merger Sub shall be satisfied, in their sole discretion, with the results of their due diligence investigation of (i) the existing formal private investigation being made by the SEC of DSNC which has been disclosed by DSNC in its SEC Filings and (ii) the consolidated class action suit filed against DSNC, and other parties, which has been disclosed by DSNC in its SEC filings.
SEC Investigation. The Lender shall be satisfied with its due diligence with respect to the SEC Investigation and the potential maximum liability (contingent or otherwise) arising from such SEC Investigation.
SEC Investigation. CellStar shall use reasonable best efforts to keep Buyer apprised of the status of the SEC Investigation, to provide copies and correspondence to and from the SEC staff, and to promptly advise Buyer of any material event, change, circumstance or development relating to or arising from the SEC Investigation.
SEC Investigation. In July 2017, Borrower learned that the United States Securities and Exchange Commission (“SEC”) issued a Formal Order of Investigation to investigate, among other things, events surrounding the Nellix EVAS System and the prospect of its FDA pre-market approval. Borrower is fully cooperating with the investigation. Borrower continues to produce materials responsive to the SEC’s subpoenas.
SEC Investigation. Reference is made to the investigation being conducted by the Securities and Exchange Commission related to the advertising and sale of securities by Parent in connection with its registered offering, as further described in Note 9 of Notes to Consolidated Financial Statements of Parent’s September 30, 2018 10-Q (the “SEC Investigation”). On or before the date hereof, Parent shall provide Lender, in writing, with the most current status of the SEC Investigation, including such information and copies of filings, correspondence, pleadings and other documents as Lender shall request in Lender’s Good Faith Business Judgment. After the date hereof, Parent shall promptly notify Lender, in writing, of all developments in the SEC Investigation, and shall provide Lender with written updates of the status of the SEC Investigation (including such information and copies filings, correspondence, pleadings and other documents as Lender shall request in Lender’s Good Faith Business Judgment) from time to time as Lender shall request in Lender’s Good Faith Business Judgment. Borrower agrees and covenants that the SEC Investigation shall be resolved to the satisfaction of Lender in Lender’s Good Faith Business Judgment, and to provide documentation of such resolution to Lender satisfactory to Lender in Lender’s Good Faith Business Judgment, by July 31, 2019; provided that (y) at Parent’s request Lender shall reasonably consider extending such dates to the extent that U.S. government shutdowns has delayed said interviews, and (z) the failure of the SEC Investigation to be resolved in such time frame shall not be an Event of Default but shall constitute a “Resolution Failure Trigger Event” (as used above with respect to the Triggered Guaranties).
SEC Investigation. The Borrower previously restated its consolidated financial statements for the fiscal year ended September 30, 2012, and the interim fiscal quarters and year to date periods within the year ended September 30, 2012, included in the Borrower’s Annual Report on Form 10-K/A, and the fiscal quarter ended December 28, 2012, as reported in the Company’s Quarterly Report on Form 10-Q/A for that fiscal quarter (the “Prior Restatement”). The staff of the SEC is conducting a formal investigation relating to the Prior Restatement and other matters. During the first quarter of fiscal 2016, the Borrower’s board of directors authorized the Borrower to engage in discussions with the SEC staff concerning a potential resolution of the investigation. The Borrower is currently engaged in discussions with the SEC staff regarding a potential resolution to the investigation. Xxxxx Xxxx v. Southern California Braiding, Inc., IEC Electronics Corp., and Xx Xxxxxx, Xxxx Xx. XX000000, Xxxxxxxxxx Superior Court for Los Angeles County. Plaintiff Xxxxx Xxxx, a former employee of Southern California Braiding, Inc. (“SCB”), filed a complaint on May 28, 2015 alleging that SCB, the Borrower and Xx Xxxxxx (“Xxxxxx”) (also a former SCB employee), wrongfully terminated her employment in violation of public policy, wrongfully demoted her in violation of public policy, retaliated against her in violation of California FEHA, subjected to her intentional infliction of emotional distress, violated California Labor Code Sections 201, 610, and 226 by misclassifying her as exempt and failing to pay wages and/or overtime. SCB, the Borrower and Xxxxxx deny the allegations of the complaint.
