WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) said on Friday it had charged New York-based brand-management company Sequential Brands Group Inc with failing to impair its goodwill as required by accounting principles and the federal securities laws.
The alleged offense took place in 2016 and 2017, and the complaint against Sequential, filed in federal district court in Manhattan, seeks injunctive relief and civil monetary penalties, the SEC said in a statement.
(Reporting by Susan Heavey; Writing by Mohammad Zargham; Editing by Mark Potter)
