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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
EXCHANGE ACT COMMISSION ACCOUNTING SALES REVENUE THEREUNDER SECURITIES EXCHANGE ACT PURSUANT PAYMENT TERMS DISTRIBUTORS TRANSACTIONS GRAYBAR REASONABLY ESTIMATE FINANCIAL STATEMENTS ANIXTER RIGHTS RESPONDENT REVENUE RECOGNITION SALES EXPERIENCE CEASE-AND-DESIST ORDER INSTITUTED PURSUANT STOCK ROTATION AGREEMENTS NET INCOME VIOLATIONS GAAP MATERIALLY INACCURATE DIRECT SALES SFAS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 44308 / May 16, 2001
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1397 / May 16, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10483
_________________________________________________________________
In the Matter of
MICROTEST, INC.,
Respondent.
_________________________________________________________________
ORDER INSTITUTING PUBLIC
PROCEEDINGS PURSUANT TO
SECTION 21C OF THE SECURITIES
EXCHANGE ACT OF1934, MAKING
FINDINGS AND IMPOSING A
CEASE-AND-DESIST ORDER
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate that public proceedings be instituted pursuant to Section
21C of the Securities Exchange Act of 1934 ("Exchange Act") to
determine whether Microtest, Inc. ("Microtest" or "Respondent")
violated Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange
Act, and Rules 12b-20, 13a-1, and 13a-13 thereunder.
II.
In anticipation of the institution of these proceedings, Microtest has
submitted an Offer of Settlement ("Offer") that 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 to
which the Commission is a party, Microtest, by its Offer, without
admitting or denying the Commission's findings contained in this Order
Instituting Public Proceedings Pursuant to Section 21C of the
Securities Exchange Act of 1934, Making Findings and Imposing a
Cease-and-Desist Order (the "Order"), except that it admits to the
SNIPPETS:
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