KATHERINE ADDLEMAN NAMED ASSOCIATE DISTRICT ADMINISTRATOR FOR ENFORCEMENT IN THE SEC'S FORT WORTH DISTRICT OFFICE
FOR IMMEDIATE RELEASE
Washington, D.C. Aug. 23, 2005 - The Securities and Exchange Commission today announced the appointment of Katherine S. Addleman as Associate District Administrator for Enforcement in the Commission's Fort Worth District Office. The District Office has jurisdiction over both enforcement and regulatory programs in a four-state area of the Southwest.
Addleman, 44, joins the Fort Worth Office with more than 16 years of experience in the Commission's enforcement program investigating and litigating numerous cases alleging issuer accounting fraud, investment adviser fraud, market manipulation, brokerage firm fraud and supervisory failures, offering fraud and insider trading. She has served as the Associate District Administrator for Enforcement in the Commission's office in Atlanta, Ga., since 2004. Previously, Addleman was an Assistant Regional Director of Enforcement for the Central Regional Office in Denver, Colo., and an Enforcement Branch Chief in the Commission's Fort Worth District Office. She also served as an associate with a Dallas law firm where she specialized in securities litigation. Addleman began her legal career as an enforcement staff attorney and special counsel in the Commission's office in Philadelphia, Pa.
Included among the more significant and high profile enforcement actions she has directed are the following:
- investigation by the Central Regional Office staff of accounting fraud and disclosure violations by Qwest Communications International Inc. which resulted in a series of actions against the company, 22 officers and employees of Qwest, and the engagement partner at Arthur Anderson LLP, Qwest's outside auditors;
- actions against Deloitte & Touche LLP, the engagement partner and the audit manager for audit failures in connection with their audit of the financial statements of Just for Feet, Inc.;
- proceedings against the Coca-Cola Company relating to failures to disclose certain end-of-quarter sales practices used to meet earnings expectations; and
- actions alleging insider trading in cases such as Tyson Foods, Inc and ShowBiz Pizza Time, Inc.
Harold F. Degenhardt, the current District Administrator of the Fort Worth District Office, said, "I am pleased to welcome Kit home to the Southwest and to the Fort Worth Office. She is very capable and experienced and I look to her to continue the extraordinary enforcement accomplishments of this office, both in terms of the quality of its cases and the level of its productivity."
Linda Thomsen, Director of the SEC's Enforcement Division, stated, "Kit has had a distinguished career at the SEC. She has been responsible for a number of major enforcement cases that have had an important impact on our securities markets and have materially enhanced the Commission's efforts to protect investors in these markets. I am confident that she will bring both tremendous energy and experience to this position and to the Fort Worth Office."
Addleman added, "I am delighted to be returning to the Fort Worth Office enforcement program. I am looking forward to associating with such a productive, dynamic and intelligent group of professionals and to carrying on the traditions of excellence they have established. I have had a terrific experience in the Atlanta and Denver Offices and will continue to cherish the relationships I have built and the experiences I have had in those offices."
Addleman received her undergraduate degree from Wake Forest in 1983 and her law degree from Oklahoma City University School of Law in 1986.