SEC investigation closure
Company: Applied Digital
The claim, verbatim
SEC investigation into company and certain officers relating to SOCRATES® technology was terminated with no adverse findings
Source (primary)
Applied Digital DEF 14A filed 2006-09-14 (SEC EDGAR, sec_filing)
View cached copy (2026-09-27)Live source ↗
Quote: “We recently received written notification from the SEC that this investigation has been terminated with no adverse findings against us and with no further action contemplated”
How we checked this
Checked on September 30, 2026. The cited source supports every part of this claim.
The letter says the SEC's informal investigation into the company and certain executive officers over SOCRATES® was terminated with no adverse findings.
Confirmed in the source:
- The SEC commenced an informal investigation in late 2003 involving the company and certain of its executive officers
- The investigation related to SOCRATES® technology
- The SEC notified the company in writing that the investigation was terminated with no adverse findings and no further action contemplated
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487906000041/flst_proxy-092006.htm) in full (73,686 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital DEF 14A filed 2006-09-14
Quote: “We recently received written notification from the SEC that this investigation has been terminated with no adverse findings against us and with no further action contemplated”