“The securities laws require public companies and their executives to make truthful disclosures of material information about a company’s financial condition,” said Kathryn A. Pyszka, an Associate Director in the SEC’s Division of Enforcement.  “The SEC’s orders find that Manitex and these executives misled investors by providing false information concerning the company’s operations and financial condition.”

The company and its executives settled without admitting or denying the SEC's findings. Combined, they agreed to pay civil penalties of $485,000. The executives are also barred from serving as officers or directors of public companies, and  from appearing or practicing before the SEC as accountants.