Sugarmade Inc (SGMD)

[josbor8]

A lot of what it’s about was overstatement of revenue... good news is sgmd hasn’t had much revenue to over state lol

“These proceedings involve serial violations of the federal securities laws and/or improper professional conduct by public accounting firm Anton & Chia, LLP (“A&C”) and several of its current and former partners and a manager. Respondents’ conduct relates to the audit and/or interim review engagements for three separate microcap company clients: Accelera Innovations, Inc. (“Accelera”), Premier Holding Corporation (“Premier”), and CannaVEST Corp. (“CannaVEST”) (together, the “Reporting Companies”). In performing the audits and interim reviews of the Reporting Companies’ financial statements, Respondents egregiously deviated from multiple standards of the Public Company Accounting Oversight Board (“PCAOB”) and ignored numerous red flags that indicated the Reporting Companies’ financial statements and public filings contained material misstatements.”

https://www.sec.gov/litigation/admin/2017/34-82206.pdf