Action against Respondents, an energy storage and power delivery products company, its former Senior Vice President of Sales & Marketing, its former CEO, and its former Corporate Controller, in connection with an alleged accounting fraud scheme that improperly recognized revenue from future quarters in violation of GAAP. According to the SEC, Respondent company issued false and misleading statements regarding its revenue, growth, and gross margins, and inflated its reported financial results. The SEC further alleges that Respondent company did not have sufficient internal accounting controls to identify and account for revenue. Additionally, the SEC alleges that Respondent company, Respondent Controller, and Respondent CEO overrode and ignored automated controls and failed to recognize red flags that should have alerted them to material revenue recognition departures. Respondent company has agreed to pay a civil penalty of $2.8 million. Respondent Vice President has agreed to pay a civil penalty of $50,000. Respondent CEO has agreed to pay disgorgement of $33,878, prejudgment interest of $6,113, and a civil penalty of $40,000. Respondent Controller has agreed to pay a civil penalty of $20,000.