SEC Clears Schawk in Accounting Investigation
DES PLAINES, IL—Schawk Inc., a provider of brand development and deployment services, announced that the company has been notified by the Securities and Exchange Commission (SEC) that it had completed its investigation of certain accounting matters related to printer's restatement of its financial results for 2005 and 2006, and the first three quarters of 2007.
The announcement was made in conjunction with Schawk's filing of its fiscal 2007 Form 10-K, and concluded the SEC does not intend to take any enforcement action against the company. Schawk disclosed the SEC's investigation in its Form 10-K for the year ended Dec. 31, 2008, and announced in May 2011 that it had received a Wells Notice related to the SEC's investigation.
"We were pleased to learn that the staff of the SEC does not intend to recommend any enforcement action against Schawk," said David Schawk, president and CEO. "We fully cooperated with the SEC during the course of the investigation and are gratified that this matter has been concluded."