Apparel Co. Says SEC's Accounting Case 'Utterly Fails'
Law360 (February 26, 2021, 6:53 PM EST) -- Sequential Brands Group wants a New York district court to toss a U.S. Securities and Exchange Commission lawsuit claiming the company botched its quarterly reporting between 2016 and 2017, arguing the SEC complaint "utterly fails" to prove its case and that the reporting methods used had no impact on investors.
The owner of various consumer brands — including the Jessica Simpson Collection — argued Thursday that the company's in-house professionals and an outside auditor continue to "stand behind" their reporting of the so-called goodwill impairment that is the focus of the Dec. 11 SEC complaint.
The SEC claims the company created...
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