Auto Service World
News   July 29, 2010   by Auto Service World

SEC Completes Investigation of Hawk Corporation, Recommends No Action Against Brake Supplier


Hawk Corporation has announced that the staff of the Division of Enforcement of the U.S. Securities and Exchange Commission has notified Hawk that it has completed its investigation and will not recommend enforcement action.
Hawk has also been informed that the staff has completed its investigation and will not recommend enforcement action against Joseph J. Levanduski, Hawk’s senior vice president and director of corporate development.
Hawk Corporation is a supplier of friction materials for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment, recreational and performance automotive vehicles.
The company also manufactures fuel cell components. Headquartered in Cleveland, Ohio, Hawk has approximately 1,200 employees at 12 manufacturing, research, sales and international representative offices and administrative sites in seven countries.
The SEC commenced an investigation relating to activity in 2006 involving transactions in Hawk’s common stock by a hedge fund manager and related issues concerning Hawk’s compliance with the Sarbanes-Oxley Act of 2002.
During the course of the investigation, Levanduski stepped aside from his role as chief financial officer, though hecontinued to serve as an executive officer in a non-financial reporting capacity. John T. Bronstrup assumed the office of interim chief accounting officer.
With the completion of the SEC investigation, Levanduski has been restored to his role as chief financial officer with the title of senior vice president – chief financial officer and director of corporate development. Bronstrup has resumed his previous position as corporate controller of Hawk.
Hawk Corporation is online at www.hawkcorp.com

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