Action against Defendant, a truckload freight company, for alleged accounting fraud.  According to the SEC, Defendant purchased and sold used trucks at inflated prices to avoid recognizing certain charges and losses.  The SEC alleges that as a result, Defendant overstated its financials in its annual report.  Defendant has agreed to pay disgorgement of $7 million, which the SEC will deem satisfied by Defendant’s payment of restitution in a parallel criminal case.

SEC Complaint

SEC Litigation Release

SEC Press Release