Action against Respondent, a manufacturer of fish oil and fish meal products, for allegedly misrepresenting in its annual and quarterly reports that it was in compliance with all the covenants related to loan agreements with the federal government.  According to the SEC, Respondent had violated its covenants, a default that required payment of accelerated interest under its outstanding loan agreements.  Respondent has agreed to pay a civil penalty of $400,000.

SEC Order