Specialty Retailer Pays $1.1M To End SEC Accounting Claims

Law360 (July 15, 2019, 9:38 PM EDT) -- Texas-based retailer Conn's Inc. and a former executive agreed to pay penalties of more than $1.1 million to resolve claims brought by the U.S. Securities and Exchange Commission over improper accounting practices, the company announced Monday.

Conn's, a specialty retailer that offers a variety of consumer goods along with credit financing services for customers with low credit scores, will shell out $1.1 million, while its ex-Chief Operating Officer Michael J. Poppe will pay $50,000, according to an unopposed bid for final judgment filed in Texas federal court Monday.

The charges and settlement arose out of a 2014 SEC investigation into the...

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