Baldwin-United was named in an SEC lawsuit.
The Securities and Exchange Commission, in a lawsuit filed in Cincinnati, charged the company, a subsidiary and two executives with violations of anti-fraud, accounting and reporting requirements. The suit named Baldwin-United; its subsidiary, D. H. Baldwin Co., and Morley P. Thompson, former president and chief executive of the two firms, and Timothy P. Hartman, Baldwin-United’s chief financial officer until April, 1982. The two firms settled the SEC charges without admitting any wrongdoing. They consented to a court order enjoining them from violating securities laws in the future. However, both Thompson and Hartman are contesting the allegations.