Medical technology company, Surgalign Holdings, was investigated by the SEC in early 2020. The regulator found multiple examples of pulling foward revenue in order to meet projections in 2015 and 2016. The CEO and CFO were fined and sanctioned in August 2022. In June 2023 the company filed for Chapter 11 bankrupcy and in July 2023 it was suspended and then delisted from NASDAQ. This is a confirmed accounting fraud involving inappropriate revenue recognition.

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