CORRECTED-UPDATE 1-Akorn settles U.S. SEC claims stemming from financial restatement [Reuters]
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Source: Reuters
Akorn settles U.S. SEC claims stemming from financial restatement | Reuters Reuters Staff 2 Min Read (Reuters) - Akorn Inc and two former executives have agreed to settle claims stemming from inaccurate financial statements the generic drugmaker issued in 2014 that it later needed to restate, the U.S. Securities and Exchange Commission on Monday said. Akorn, former Chief Financial Officer Timothy Dick and former Controller David Hebeda agreed to settle a lawsuit filed in federal court in Chicago. Dick and Hebeda each agreed to pay a $20,000 penalty, the SEC said. Akorn will not have to pay any money as part of the settlement. It instead consented to a court order being entered enjoining it from future financial reporting and internal accounting control violations of the Securities Exchange Act. The Lake Forest, Illinois-based company and two former executives agreed to settle the case without admitting or denying wrongdoing. Akorn and lawyers for Dick and Hebeda did not respond to req
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