Texas Retailer, Ex-CEO To Pay SEC $225K In Accounting Case

Law360 (July 21, 2021, 7:43 PM EDT) -- A Texas specialty leather retailer and its onetime chief executive have agreed to pay $225,000 to settle U.S. Securities and Exchange Commission claims that the company gave investors inaccurate financial statements dating back to 2016, the agency said Wednesday.

In an administrative proceeding before the SEC, Tandy Leather Factory Inc. and former CEO and Chief Financial Officer Shannon Greene will pay civil penalties of $200,000 and $25,000, respectively, to settle the SEC's claims without admitting or denying wrongdoing.

In a Wednesday statement, David Peavler, director of the SEC's Fort Worth regional office, called the company's inventory tracking system and related controls...

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