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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION REPORTS EXCHANGE SECURITIES COMPLAINT FILING PERIODIC REPORTS EXCHANGE ACT DISTRICT COMPLAINT ALLEGES DELINQUENT CIVIL UNITED STATES DISTRICT STATES DISTRICT COURT COLUMBIA ENVIRNOMENTAL PRODUCTS COMPANY PINK SHEETS ACCURATE INFORMATION FINANCIAL CONDITION ANNUAL REPORTS QUARTERLY REPORTS NOTIFICATIONS COMPEL QUADRATECH ENJOIN QUADRATECH VIOLATIONS THEREUNDER ENTRY JUDGMENT GRANTING RELIEF |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
Litigation Release No. 15745 / May 18, 1998
Securities and Exchange Commission v. Quadratech, Inc.
Civil No. 98-CV- 01224 (D.D.C.) (filed May 15,1998)
On May 15, 1998, the Commission filed a complaint in the United States
District Court for the
District of Columbia against Quadratech, Inc. ("Quadratech"). The complaint
alleges that
Quadratech, an envirnomental products company whose securities are quoted in
the pink sheets,
failed to make available to the investing public current and accurate
information about its
financial condition and results of operation through the filing of periodic
reports with the
Commission as required by the Securities Exchange Act of 1934 ("Exchange
Act"). Specifically,
the complaint alleges that Quadratech has not filed its Annual Reports on
Form 10-K for the
fiscal years ended December 31, 1996 and 1997, its Quarterly Reports on Form
10-Q for the
fiscal quarters ended March 31, June 30 and September 30, 1997, and five
Notifications of Late
Filing with respect to its delinquent reports. The Commission seeks to
compel Quadratech to
file its delinquent periodic reports and enjoin Quadratech from further
violations of
Section 13(a) of the Exchange Act of 1934 and Rules 12b-25, 13a-1 and 13a-13
thereunder.
Simultaneously with the filing of the Commission's complaint, Quadratech
consented to the
entry of a Final Judgment granting the relief sought by the Commission and
admitted that it
had not filed the periodic reports as described above.
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