Action against Respondent, a tobacco company, for alleged financial misstatements. According to the SEC, Respondent’s subsidiary, Alliance One Tobacco (Kenya) Ltd., maintained inadequate accounting controls that resulted in overstatements of inventory, accounts receivable, and retained earnings.  Respondent agreed to cease and desist from violations of the Securities and Exchange Act of 1934.  The SEC noted Respondent’s prompt remedial actions and cooperation in its order.

SEC Order

SEC Administrative Summary