Sequential Brands, SEC Reach Deal to End Goodwill Suit (Correct)

Sequential Brands Group Inc. reached a settlement with the SEC resolving allegations it overstated its goodwill, leading to a $304 million impairment, the parties told a federal judge in New York.

The consumer brands company—whose portfolio included the Jessica Simpson Collection and yoga brand Gaiam—agreed to permanent injunctions barring it from violating the federal securities laws at issue in the Securities and Exchange Commission case, including books and records regulations, according to documents filed in the U.S. District Court for the Southern District of New York.

Judge J. Paul Oetken in September rejected Sequential’s attempt to dismiss the case. The ...