Shafer, Dale B. - Columbus, OH

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Shafer’s AICPA membership was terminated, effective April 13, 2012, in connection with the Securities and Exchange Commission’s disciplinary action. Specifically, the SEC suspended Mr. Shafer from appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after five years. This decision was based on allegations that Mr. Shafer knowingly or recklessly breached his fiduciary duty of trust and confidence to shareholders by communicating confidential information entrusted to him about a merger.