regulatory
confidence high
sentiment negative
materiality 0.65
Rollins settles SEC investigation over EPS adjustments; pays $8M civil penalty
ROLLINS INC
- Settlement resolves SEC probe into adjustments to accruals and reserves in Q1 2016 and Q2 2017 affecting EPS.
- $8 million civil penalty fully accrued in Q3 and Q4 2021; no new cash impact.
- Company neither admits nor denies SEC findings and agrees to cease-and-desist order.
- No restatement of historical financial results; individuals leading accounting at the time no longer employed.
- Rollins strengthened internal controls and financial reporting processes since the investigation began.