In the Matter of Orthofix International N.V.
Admin. Proc. File No. 3-17791

    In the Matter of Jeffrey Hammel, CPA
    Admin. Proc. File No. 3-17792

    In the Matter of Brian McCollum
    Admin. Proc. File No. 3-17793

    In the Matter of Kenneth Mack, et al.
    Admin. Proc. File No. 3-17794

On January 18, 2017, the Commission instituted and simultaneously settled four related proceedings (the "Orders") against Orthofix International N.V. ("Orthofix") and four of its former senior executives and officers, Jeffery Hammel, CPA ("Hammel"), Brian McCollum ("McCollum"), Kenneth Mack ("Mack"), and Bryan McMillian ("McMillian") (collectively, the "Respondents"). In the Orders, the Commission found that, from at least 2011 to mid-2013, Orthofix materially overstated its distributor revenue and operating income in various annual and quarterly reports and earnings releases filed with the Commission violating the antifraud, reporting, books and records, and internal accounting controls provisions of the federal securities laws. The Commission ordered Orthofix, Hammel, McCollum, Mack, and McMillan to pay $8,250,000.00, $20,000.00, $35,000.00, $40,000.00, and $25,000.00, respectively, in civil money penalties. The Commission also created fair funds, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the penalties collected can be distributed to investors harmed by the Respondents' conduct. The Orders further provided that the fair funds can be combined for the benefit of investors, making the total funds available for distribution $8,370,000.00 (the "Fair Fund"). See the Commission's Orders: Release Nos. 33-10281, 33-10282, 34-79819, and 34-79820.

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