SEC v. Abner Silva (2019)
Settled
Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In September 2019 the SEC settled proceedings against Abner Silva, a former DS Healthcare executive, over overstated revenue in the company's 2015 reports. He agreed to an $80,000 penalty. The order concerns financial reporting fraud, not insider trading.
The record
| Agency | SEC |
|---|---|
| Release number | 3-19426 |
| Date filed | 2019-09-06 |
| Date resolved | 2019-09-06 |
| Status | settled |
| Asset class | equities |
| Venue | Nasdaq |
| Criminal parallel | No |
| Defendants | Abner Silva |
| Cited as charged or alleged | Exchange Act s.10(b) and Rule 10b-5 ; Exchange Act s.13(a) ; Securities Act s.17(a) |
| Techniques |
What was ordered
- Civil penalty
- $80k
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $80k
- Alleged gain
- —
What is alleged to have happened
The Commission found that during the first three quarters of 2015 Silva and others overstated revenue through fictitious sales, overbilling and credits, and improper end-of-quarter, bill-and-hold and consignment shipments, making the company's quarterly reports and registration statements false. The record's insider-trading tag has been removed because the order does not concern trading. He agreed to pay a civil penalty of $80,000.
Timeline
- 2019-09-06 Administrative proceeding instituted (102e)
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.