Log In | Become a Member | Contact Us

Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

Presstek Announces Resolution of SEC Investigation

Wednesday, March 10, 2010

Press release from the issuing company

GREENWICH, CT -- Presstek, Inc., a leading supplier of digital offset printing solutions to the printing and communications industries, today announced that it had reached a settlement of a formal investigation that has been conducted by the U.S. Securities and Exchange Commission ("SEC"). On March 14, 2007 the SEC initiated an informal investigation related to matters arising from the Company's announcement of preliminary financial results for the third quarter of 2006. The Company received a formal order of investigation from the SEC on February 4, 2008. Under the settlement reached today, the Company agreed to pay a civil penalty of $400,000 to resolve this matter. The settlement amount had been previously fully reserved on the Company's financial statements in the third quarter of 2009.

"This investigation related to matters that occurred prior to the changes in executive leadership which took place in 2007," said Jeff Jacobson, Presstek's Chairman, President and Chief Executive Officer. "We feel very strongly about corporate governance and we are pleased to put this legacy issue behind us."




Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved