Evoqua Water Technologies Corp. will pay an $8.5 million fine to settle U.S. Securities and Exchange Commission (SEC) charges that the water treatment company used improper accounting to fraudulently inflate revenue in 2017 and 2018, including during its initial public offering.
The SEC said on Monday that its civil settlement with the Pittsburgh-based company also resolves charges against Imran Parekh, a former finance director at its Neptune Benson unit and the “ultimate decision maker” within his group.
