Fraud Section Archives - The Industry Spread

SEC Charges Truckload Freight Company With Accounting Fraud

April 28, 2019

The Securities and Exchange Commission today charged Indianapolis-based Celadon Group Inc. with an accounting fraud that allowed the truckload freight company to avoid disclosing substantial losses and misrepresent its financial condition.

SEC Charges Lumber Liquidators With Fraud

March 15, 2019

The Securities and Exchange Commission today announced charges against Lumber Liquidators Holdings Inc. for making fraudulent misstatements to investors.  The charges stem from Lumber Liquidators’ false public statements in response to media allegations that the company was selling laminate flooring that contained levels of formaldehyde exceeding regulatory standards.  Lumber Liquidators agreed to pay more than $6 million to settle the SEC action.