2024-04-09 sec-litreleases litigation_release 64 KB 1,682 chars

SEC v. Joanna Lanni, No. LR-25972, Southern District of New York (Apr. 9, 2024) — Press Release

raw: Rosenberger et al.

Rosenberger et al., No. 1:22-cv-4736 (S.D.N.Y. Apr. 9, 2024)

Caption: Securities and Exchange Commission v. Rosenberger et al., Civil Action No. 1:22-cv-4736

summary

The SEC obtained a final judgment against Synchronoss controller Joanna Lanni for falsifying books and records to overstate revenue, resulting in a permanent injunction and a $20,000 penalty.

paragraph

Joanna Lanni, a controller for Synchronoss, was charged with violating the Exchange Act and aiding and abetting company reporting violations. The SEC's complaint alleged she falsified books and records related to a 2016 transaction that materially overstated revenue. Lanni consented to a final judgment that includes a permanent injunction and a $20,000 civil monetary penalty.

narrative

The U.S. Securities and Exchange Commission obtained a final judgment against Joanna Lanni, a controller for Synchronoss, for her role in accounting misconduct. Lanni was accused of falsifying company books and records in connection with a 2016 transaction, which led to a material overstatement of revenue. The SEC charged her with violating Section 13(b)(5) of the Exchange Act and Rule 13b2-1, as well as aiding and abetting Synchronoss’s various reporting violations. Following a partial summary judgment granted in January 2024, Lanni consented to the final judgment without admitting or denying the allegations. The court entered the final judgment on April 8, 2024, imposing a permanent injunction against future Rule 13b2-1 violations. Additionally, Lanni was ordered to pay $20,000 in civil monetary penalties.

Enriched metadata

Scheme: accounting-fraud (100%)
Court: Southern District of New York
Case No.: 1:22-cv-4736
Outcome: settled · 2024-01-26
Settlement: $20,000
Entity: Joanna Lanni

Classified accounting-fraud(confidence 100%). EDGAR detection: forms 10-K/10-Q/8-K/NT 10-K· recall 80% / precision 48%. detection rule →

Extracted insights

Dollar amounts 1

$20K $20,000 $10K–$100K

Entities 6

person final judgment
person joanna lanni
agency sec’s motion for partial summary judgment
agency Securities and Exchange Commission
person synchronoss controller
court u.s. district court for the southern district of new york

Triples 12

U.S. Securities And Exchange Commission obtains judgment Synchronoss Controller
U.S. District Court For The Southern District Of New York entered judgment Joanna Lanni
Joanna Lanni falsified records Synchronoss’s Books And Records
Joanna Lanni charged with violating Section 13(b)(5) Of The Securities Exchange Act Of 1934
Joanna Lanni charged with violating Rule 13b2-1
Joanna Lanni aiding and abetting Synchronoss’s Violations Of Sections 13(a) And 13(b)(2)(A) Of The Exchange Act
U.S. District Court For The Southern District Of New York granted motion SEC’s Motion For Partial Summary Judgment
U.S. District Court For The Southern District Of New York found violation Lanni Violated Rule 13b2-1
Joanna Lanni consented to judgment Final Judgment
Joanna Lanni agreed to pay $20,000
Litigation is led by Hayden Brockett, Theresa Gue, Lindsay S. Moilanen, And Richard G. Primoff
Litigation is supervised by Sheldon L. Pollock And Preethi Krishnamurthy

View original SEC litigation releasesec.gov

Extracted body text (1,682c)

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25972 / April 9, 2024 Accounting and Auditing Enforcement Release No. 4496 / April 9, 2024 Securities and Exchange Commission v. Rosenberger et al., Civil Action No. 1:22-cv-4736 (DLC) (S.D.N.Y. filed June 7, 2022) SEC Obtains Final Judgment Against Synchronoss Controller for Role in Alleged Accounting Misconduct On April 8, 2024, the U.S. District Court for the Southern District of New York entered a final judgment against Joanna Lanni, imposing an injunction and ordering her to pay civil monetary penalties. According to the SEC’s complaint, Lanni falsified Synchronoss’s books and records in connection with a 2016 transaction that resulted in the material overstatement of revenue by Synchronoss. The SEC’s complaint charged Lanni with violating Section 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 13b2-1 thereunder; and aiding and abetting Synchronoss’s violations of Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rules 12b-20, 13a-1, 13a-11, and 13a-13 thereunder. On January 26, 2024, the Court granted the SEC’s motion for partial summary judgment against Lanni, finding that Lanni violated Rule 13b2-1. Without admitting or denying the allegations of the complaint, Lanni consented to a final judgment in which she agreed to be permanently enjoined from violations of Rule 13b2-1 and agreed to pay $20,000 in civil monetary penalties. On April 8, 2024, the Court entered the final judgment. The litigation is being led by Hayden Brockett, Theresa Gue, Lindsay S. Moilanen, and Richard G. Primoff under the supervision of Sheldon L. Pollock and Preethi Krishnamurthy.

OCR text (1,682c · html-text · 99% conf)