Uncategorized Risk Management
SEC settles charges against Manitex and former execs

Washington – The U.S. Securities and Exchange Commission (SEC) said on Oct. 6 it had settled charges of accounting fraud against heavy equipment manufacturer Manitex International Inc. and three former executives.

According to the SEC, Illinois-based Manitex misled its outside auditor and as a result the company overstated its 2014 operating and pre-tax income and its 2016 net revenues and gross profits.