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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
EXCHANGE ACT REPORTS COMMISSION EXPENSE CAPITALIZATION ACCOUNTING RESPONSE SOP PURSUANT SECURITIES DIRECT-RESPONSE LOSS DISCLOSE CRUISES CUSTOMERS FUTURE BENEFITS OPERATING FINANCIAL STATEMENTS INSTITUTING REVENUES FINDINGS MISLEADING UNDERSTANDING GAAP EXCEPTION PROBABLE FUTURE THEREUNDER INCOME ISSUER |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 44473 / June 25, 2001
Accounting and Auditing Enforcement
Release No. 1416 / June 25, 2001
Administrative Proceeding
File No. 3-10523
_________________________________________________________________
In the Matter of
AMERICAN CLASSIC VOYAGES CO.
Respondent.
_________________________________________________________________
ORDER INSTITUTING
PROCEEDINGS PURSUANT
TO SECTION 21C OF THE
SECURITIES EXCHANGE ACT
OF 1934, MAKING FINDINGS
AND IMPOSING A CEASE-
AND-DESIST ORDER
I.
The Securities and Exchange Commission (Commission) deems it
appropriate to institute cease-and-desist proceedings against
Respondent American Classic Voyages Co. (American Classic) pursuant to
Section 21C of the Securities Exchange Act of 1934 (Exchange Act).
In anticipation of the institution of these proceedings, American
Classic has submitted an Offer of Settlement (Offer), which the
Commission has determined to accept. Solely for the purpose of these
proceedings and any other proceedings brought by or on behalf of the
Commission or in which the Commission is a party, prior to a hearing
pursuant to the Commission's Rules of Practice, 17 C.F.R. §201.100 et
seq., and without admitting or denying the Commission's findings
contained herein, except to the Commission's jurisdiction over it and
the subject matter of this proceeding, which are admitted, American
Classic consents to the entry of this Order Instituting Proceedings
Pursuant to Section 21C of the Exchange Act, Making Findings and
Imposing a Cease-and-Desist Order (Order).
SNIPPETS:
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