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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION REPORTS EXCHANGE COMPLAINT SECURITIES FILING EXCHANGE ACT AMERICAN CASCADE ENERGY DISTRICT COMPLAINT ALLEGES PERIODIC REPORTS QUARTERLY REPORTS DELINQUENT COLUMBIA HOUSTON TEXAS PUBLICLYOWNED OIL GAS COMPANY ACCURATE INFORMATION FINANCIAL CONDITION ANNUAL REPORTS NOTIFICATIONS COMPEL AMERICAN CASCADE ENJOIN AMERICAN CASCADE VIOLATIONS THEREUNDER ENTRY JUDGMENT GRANTING RELIEF |
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
Litigation Release No. 14857 / March 29, 1996
Securities and Exchange Commission v. American Cascade Energy,
Inc.
Case No. 96-CV00626 (D.D.C.) (filed March 29, 1996)
On March 29, 1996, the Commission filed a complaint in the
United States District Court for the District of Columbia against
American Cascade Energy, Inc. ("American Cascade") of Houston,
Texas. The complaint alleges that American Cascade, a publicly-
owned oil and gas company, failed for more than two years 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
American Cascade has not filed two Annual Reports on Form 10-K,
six Quarterly Reports on Form 10-Q, and eight Notifications of
Late Filing with respect to its delinquent reports and failed to
timely file a Quarterly Report on Form 10-Q. The Commission
seeks to compel American Cascade to file its delinquent periodic
reports and to enjoin American Cascade 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, American Cascade consented to the entry
of a Final Judgment granting the relief sought by the Commission
and admitted that it had not filed and had failed to file timely
the periodic reports as described above.
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