Green Market report
The SEC asserted that Acreage asked a vendor to transfer the money to inflate the company’s year-end cash position.
Federal U.S. securities regulators have accepted a settlement deal with Acreage Holdings Inc. (CSE: ACRG.A.U) (OTCQX: ACRHF) for temporarily inflating its cash balance at the end of 2019 by $4.2 million, ostensibly for the purposes of “misleading” shareholders as to the company’s true financial position. Acreage agreed to pay a $225,000 fine and has also been issued a cease-and-desist order by the SEC.
Read full report (paywall)
https://www.greenmarketreport.com/sec-fines-acreage-225k-over-suspicious-4-million-cash-transfer/
