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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
REPORTS EXCHANGE COMPLAINT SECURITIES FILING PERIODIC REPORTS EXCHANGE ACT DISTRICT COMPLAINT ALLEGES DELINQUENT LITIGATION CIVIL UNITED STATES DISTRICT STATES DISTRICT COURT COLUMBIA MEDICAL PRODUCTS COMPANY ACCURATE INFORMATION FINANCIAL CONDITION ANNUAL REPORT QUARTERLY REPORTS NOTIFICATIONS VIOLATIONS THEREUNDER ENTRY JUDGMENT GRANTING RELIEF |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
Litigation Release No. 15422 / July 25, 1997
Securities and Exchange Commission v. BioCoral Inc.
Civil No. 97-CV-101676 (D.D.C.) (filed July 25, 1997)
On July 25, 1997, the Commission filed a complaint in the United
States District Court for the District of Columbia against BioCoral,
Inc.
("BioCoral"). The complaint alleges that BioCoral, a medical
products
company, 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 BioCoral has not filed its Annual Report on Form
10-
K for the fiscal year December 31, 1996, two Quarterly Reports on Form
10-Q
for the fiscal quarters ended March 31, 1997 and September 30, 1996,
and
five Notifications of Late Filing with respect to its delinquent
reports.
The Commission seeks to compel BioCoral to file its delinquent
periodic
reports and enjoin BioCoral 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,
BioCoral
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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