---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-154264"
form_type: "8-K/A"
ticker: "HLI"
cik: "0001302215"
company_name: "HOULIHAN LOKEY, INC."
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T14:12:33.374990+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Houlihan Lokey records $15M SEC settlement accrual; revises Q4/FY2023 GAAP EPS down

## Summary
- SEC investigation for off-channel communications; $15M civil penalty intended
- Q4 GAAP net income reduced from $75M to $60M; diluted EPS from $1.10 to $0.88
- FY2023 GAAP net income reduced from $269M to $254M; diluted EPS from $3.98 to $3.76
- Adjusted EPS unchanged at $1.11 Q4 and $4.54 FY; revenue unchanged at $445M Q4, $1.8B FY
- Settlement in line with industry sweep; 14 firms previously settled for $7.5M-$125M each

## SEC filing metadata
- accession: 0001193125-23-154264
- form_type: 8-K/A
- ticker: HLI
- cik: 0001302215
- company_name: HOULIHAN LOKEY, INC.
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1302215/000119312523154264/0001193125-23-154264-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1302215/000119312523154264/d455729d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-154264
- JSON: https://secwatch.observer/filing/0001193125-23-154264.json
- Plain text: https://secwatch.observer/filing/0001193125-23-154264.txt

## Key facts
- Earnings Releases
  HOULIHAN LOKEY, INC. reported preliminary financial results for fiscal year and fourth fiscal quarter ended March 31, 2023.
  - Period: fiscal year and fourth fiscal quarter ended March 31, 2023
  - Result: preliminary results
  source text: On May 25, 2023, the Company provided a press release (the "Earnings Release Update") with respect to its Previously Released Financial Results for the fiscal year and fourth fiscal quarter ended March 31, 2023 included in the Original Earnings Release.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1302215/000119312523154264/0001193125-23-154264-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.