Documents
Company’s appearing in today’s research update --
- Eagle Bancorp, Inc. – EGBN
- Rhythm Pharmaceuticals Inc. – RYTM
- Rush Enterprises, Inc. – RUSHA
- Territorial Bancorp, Inc. – TBNK
The links below will take you to our fully updated SEC Investigation Update Report which has each company’s history and our analysis.
Eagle Bancorp, Inc. – EGBN: An undisclosed SEC investigation is again confirmed. Undisclosed SEC investigative activity found at Eagle Bancorp since Jul-2019, again confirmed as ongoing on 13-Jan-2021. The first Freedom of Information Act (FOIA) response indicating an SEC investigation was dated 16-Jul-2019. On-going enforcement proceedings confirmed on appeal three times since, most recently on 13-Jan-2021. The company makes repeated and sweeping generalizations regarding investigation(s) by regulatory agencies on which little detail is provided. This includes involvement by the US Attorney, which is a criminal exposure.
Rhythm Pharmaceuticals Inc. – RYTM: Warning. A formal and undisclosed SEC investigation into identified patients, anticipated number of patients, and population data just ended in December 2020. In our opinion, this most certainly should have been disclosed to investors. We obtained some of the related documents. Full details in today’s report. Removed from Watch List of Companies with Undisclosed SEC Investigations.
Rush Enterprises, Inc. – RUSHA: Added to Watch List. Confirmed, Undisclosed SEC Investigation. We also obtained some analytically rich documents from an undisclosed 2017-2019 SEC investigation into the company’s EPS calculations. The most recent undisclosed SEC investigative activity first found at Rush Enterprises on 15-Dec-2020, and then later confirmed as ongoing on 13-Jan-2021. This is a change from a response dated 22-Nov-2019, at which time we received records on that earlier, undisclosed SEC investigation.
Territorial Bancorp, Inc. – TBNK: Warning. On Friday, 12-Mar-2021, after the market closed, Territorial Bancorp filed an 8-K announcing recent receipt of an SEC subpoena which the company says relates to earnings calculations from 2018. In a troubling note, we found the related disclosure was then left out of the company’s 10-K, filed only one week later. In our opinion, Territorial Bancorp management is playing Disclosure Games® with investors over this SEC investigation. We think there’s easily more to this story than management is telling you. We mark-up the disclosures and point out our concerns in today’s report.
No Recent SEC Investigative Records Found – 78 Companies
As of the date of the response in the table below, we received Freedom of Information Act (FOIA) responses from the SEC to suggest the absence of recent SEC investigative activity. If you think any of these companies have SEC investigations, or had them in the recent past, let us know and we’ll file an appeal to challenge the adequacy of the search that led to the responses cited here.
|
|
Company Name |
Ticker |
Date of Response |
|
1 |
Accuray Incorporated |
ARAY |
9-Mar-2021 |
|
2 |
AerCap Holdings N.V. |
AER |
9-Mar-2021 |
|
3 |
Align Technology, Inc. |
ALGN |
16-Mar-2021 |
|
4 |
Allegiance Bancshares Inc. |
ABTX |
12-Mar-2021 |
|
5 |
Allegion Plc. |
ALLE |
12-Mar-2021 |
|
6 |
Alnylam Pharmaceuticals, Inc. |
ALNY |
9-Mar-2021 |
|
7 |
Altisource Portfolio Solutions S.A. |
ASPS |
22-Mar-2021 |
|
8 |
American Eagle Outfitters, Inc. |
AEO |
16-Mar-2021 |
|
9 |
Aramark |
ARMK |
22-Mar-2021 |
|
10 |
Armstrong World Industries Inc. |
AWI |
11-Mar-2021 |
|
11 |
Autodesk, Inc. |
ADSK |
22-Mar-2021 |
|
12 |
Avanos Medical, Inc. |
AVNS |
22-Mar-2021 |
|
13 |
Cabot Oil & Gas Corp. |
COG |
25-Mar-2021 |
|
14 |
Century Communities, Inc. |
CCS |
12-Mar-2021 |
|
15 |
CF Industries Holdings, Inc. |
CF |
9-Mar-2021 |
|
16 |
Chefs' Warehouse, Inc. |
CHEF |
11-Mar-2021 |
|
17 |
Cincinnati Bell, Inc. |
CBB |
22-Mar-2021 |
|
18 |
Coca Cola Bottling Co. Consolidated |
COKE |
9-Mar-2021 |
|
19 |
CTS Corporation |
CTS |
16-Mar-2021 |
|
20 |
Cushman & Wakefield PLC. |
CWK |
22-Mar-2021 |
|
21 |
Deere & Co. |
DE |
10-Mar-2021 |
|
22 |
Digimarc Corporation |
DMRC |
8-Mar-2021 |
|
23 |
Dime Community Bancshares, Inc. |
DCOM |
8-Mar-2021 |
|
24 |
Dish Network Corp. |
DISH |
9-Mar-2021 |
|
25 |
e.l.f. Beauty, Inc. |
ELF |
19-Mar-2021 |
|
26 |
El Pollo Loco Holdings Inc. |
LOCO |
17-Mar-2021 |
|
27 |
EPR Properties |
EPR |
8-Mar-2021 |
|
28 |
Equity LifeStyle Properties, Inc. |
ELS |
11-Mar-2021 |
|
29 |
Evergy, Inc. |
EVRG |
19-Mar-2021 |
|
30 |
First Interstate Bancsystem Inc. |
FIBK |
22-Mar-2021 |
|
31 |
Floor & Décor Holdings, Inc. |
FND |
8-Mar-2021 |
|
32 |
Forestar Group, Inc. |
FOR |
19-Mar-2021 |
|
33 |
Freeport McMoRan, Inc. |
FCX |
8-Mar-2021 |
|
34 |
Gaming and Leisure Properties, Inc. |
GLPI |
25-Mar-2021 |
|
35 |
Goosehead Insurance, Inc. |
GSHD |
25-Mar-2021 |
|
36 |
Greenlight Capital Re Ltd. |
GLRE |
8-Mar-2021 |
|
37 |
HCA Healthcare, Inc. |
HCA |
15-Mar-2021 |
|
38 |
Industrial Logistics Properties Trust |
ILPT |
25-Mar-2021 |
|
39 |
Intercontinental Exchange, Inc. |
ICE |
17-Mar-2021 |
|
40 |
Invacare Corporation |
IVC |
15-Mar-2021 |
|
41 |
ION Geophysical Corp. |
IO |
25-Mar-2021 |
|
42 |
Kaiser Aluminum Corporation |
KALU |
19-Mar-2021 |
|
43 |
Kiniksa Pharmaceuticals Ltd. |
KNSA |
22-Mar-2021 |
|
44 |
KKR Real Estate Finance Trust Inc. |
KREF |
22-Mar-2021 |
|
45 |
Korea Electric Power Corp. |
KEP |
15-Mar-2021 |
|
46 |
Lithia Motors, Inc. |
LAD |
12-Mar-2021 |
|
47 |
Liveperson Inc. |
LPSN |
25-Mar-2021 |
|
48 |
Lockheed Martin Corporation |
LMT |
15-Mar-2021 |
|
49 |
Logitech International SA |
LOGI |
11-Mar-2021 |
|
50 |
Luminex Corporation |
LMNX |
15-Mar-2021 |
|
51 |
Magnolia Oil & Gas Corp. |
MGY |
19-Mar-2021 |
|
52 |
Medpace Holdings, Inc. |
MEDP |
25-Mar-2021 |
|
53 |
Mercadolibre, Inc. |
MELI |
25-Mar-2021 |
|
54 |
Merit Medical Systems, Inc. |
MMSI |
17-Mar-2021 |
|
55 |
Moneygram International Inc. |
MGI |
26-Mar-2021 |
|
56 |
NanoString Technologies, Inc. |
NSTG |
25-Mar-2021 |
|
57 |
National Research Corp. |
NRC |
19-Mar-2021 |
|
58 |
National Storage Affiliates Trust |
NSA |
15-Mar-2021 |
|
59 |
Nautilus Inc. |
NLS |
16-Mar-2021 |
|
60 |
NetApp, Inc. |
NTAP |
15-Mar-2021 |
|
61 |
Olin Corp. |
OLN |
16-Mar-2021 |
|
62 |
OneSpaWorld Holdings Ltd. |
OSW |
22-Mar-2021 |
|
63 |
Orthofix International N.V |
OFIX |
11-Mar-2021 |
|
64 |
Palomar Holdings, Inc. |
PLMR |
22-Mar-2021 |
|
65 |
Park Aerospace Corp. |
PKE |
23-Mar-2021 |
|
66 |
PetIQ, Inc. |
PETQ |
11-Mar-2021 |
|
67 |
Quanterix Corp. |
QTRX |
11-Mar-2021 |
|
68 |
Science Applications International Corp. |
SAIC |
19-Mar-2021 |
|
69 |
Scotts Miracle-Gro Company, The |
SMG |
8-Mar-2021 |
|
70 |
Select Energy Services, Inc. |
WTTR |
15-Mar-2021 |
|
71 |
Skechers USA Inc. |
SKX |
16-Mar-2021 |
|
72 |
SM Energy Company |
SM |
22-Mar-2021 |
|
73 |
Sun Communities, Inc. |
SUI |
12-Mar-2021 |
|
74 |
TechTarget Inc. |
TTGT |
15-Mar-2021 |
|
75 |
Tootsie Roll Industries, Inc. |
TR |
16-Mar-2021 |
|
76 |
Unisys Corporation |
UIS |
15-Mar-2021 |
|
77 |
Woodward, Inc. |
WWD |
11-Mar-2021 |
|
78 |
Zimmer Biomet Holdings Inc. |
ZBH |
8-Mar-2021 |
Clients are invited to contact us anytime, in total confidence to discuss the data and/or risks we identify here.
Notes: The SEC’s assertion and/or confirmation of the law enforcement exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security.
New SEC investigative activity could theoretically begin or end after the date covered by the latest information in this report, which would not be reflected here. Where applicable, the SEC did not disclose the details on investigations referenced herein. All we know is that they somehow pertain to the conduct, transactions, and/or disclosures of the companies. Companies with undisclosed SEC investigations are maintained on our Watch List of companies with undisclosed SEC investigations. The SEC reminds us that its assertion of the law enforcement exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security.
Probes Reporter® research provides data, commentary, and analysis on public company interactions with investors and with the SEC. Our work is heavily reliant on company disclosures and our expertise in using the Freedom of Information Act.
“Disclosure Games®” is a trademarked term we use to highlight those public companies engaging in disclosure practices that in our opinion may be misleading, confusing, evasive, or otherwise lacking the transparency needed for investors to make well-informed investment decisions regarding a potentially material exposure.
