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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION REPORTS EXCHANGE COMMISSION SECURITIES DISTRICT COURT UNITED STATES JUDGEMENT ANNUAL REPORTS QUARTERLY REPORTS COMMISSION DISCLOSING RESIGNATION LITIGATION FAILING MINNEAPOLIS PUBLIC ACCOUNTANTS ORDER PERMANENTLY ENJOINS FUTURE VIOLATIONS EXCHANGE ACT THEREUNDER AUDITORS PRIOR ENTRY |
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16376 / November 30, 1999
UNITED STATES SECURITIES AND EXCHANGE COMMISSION V. EQUISURE, INC., 98
CV. 1298 (D.D.C.)
DISTRICT COURT ENTERS DEFAULT JUDGMENT AGAINST COMPANY FOR FAILING TO
FILE REPORTS WITH THE COMMISSION
The Securities and Exchange Commission announced that on October 6,
1999 the United States District Court for the District of Columbia
entered a default judgment against Equisure, Inc. ("Equisure"), a
Minneapolis based corporation. The Commission's complaint alleged that
Equisure failed to file annual reports for the fiscal years ending
December 31, 1996 and December 31, 1997. Additionally, the
Commission's complaint alleged that Equisure failed to file quarterly
reports for the fiscal quarters ending March 31, 1998 and June 30,
1998, and the company failed to file a report with the Commission
disclosing the resignation of its public accountants in October 1997.
The court's order permanently enjoins Equisure from future violations
of Section 13(a) of the Exchange Act and Rules 12b-25, 13a-1, 13a-11,
and 13a-13 thereunder. The Court's order also requires Equisure to
take the following remedial measures Equisure must file its annual
report with the Commission on Form 10-K for the fiscal years 1996 and
1997; Equisure must file a Form 8-K with the Commission disclosing the
resignation of its auditors; Equisure must file with the Commission
quarterly reports on Form 10-Q for the fiscal quarters ending March
31, 1998 and June 30, 1998; and Equisure must file with the Commission
any periodic or current reports that became due prior to the entry of
the court's order.
_________________________________________________________________
Modified 12/06/1999
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