SEC Charges MusclePharm Corporation With Failure to Properly Report Executives’ Perks and Other Violations
On September 8, 2015, the Securities and Exchange Commission (“SEC”) instituted settled administrative cease-and-desist proceedings against MusclePharm Corporation (“MusclePharm”) as a result of its alleged disclosure and accounting violations, including inaccurate reporting of perquisite compensation paid to its executives. The SEC also entered into settled administrative cease-and-desist proceedings against three current and former MusclePharm executives, as well as its former audit committee chairman, due to their alleged involvement in the company’s misconduct.