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SEC v E.ON AG Click to find out why . . .



Keywords & Phrases
CaseNo: 34-43372, Defendant: E.ON AG, Plaintiff: SEC, UniqueCaseRef: SEC>34-43372, Veba, Exchange Act, Merger, Commission, Viag, Securities Exchange Act, Merger Negotiations, Chairman, Denials, United States, Public Proceedings Pursuant, Matter, Making Findings, German Cartel Office, Senior Management, Communications, Cartel Office, Spokesperson, Respondent, Anticipation, Settlement, Inquiries, Clo, Investors, Existence, Cfo, Reuters Reporter, Administrative Proceeding, Desist Order, Misleading , ContentID: 120244217

Case Documents
1 2000-09-28 SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below  ] ItemID: 110951
10 pages
HTML
Total Documents: 1 document , 10 pages
Price: $ 19.95


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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS
EXCHANGE ACT
MERGER
COMMISSION
VIAG
SECURITIES EXCHANGE ACT
MERGER NEGOTIATIONS
CHAIRMAN
DENIALS
UNITED STATES
PUBLIC PROCEEDINGS PURSUANT
MATTER
MAKING FINDINGS
GERMAN CARTEL OFFICE
SENIOR MANAGEMENT
COMMUNICATIONS
CARTEL OFFICE
SPOKESPERSON
RESPONDENT
ANTICIPATION
SETTLEMENT
INQUIRIES
CLO
INVESTORS
EXISTENCE
CFO
REUTERS REPORTER
ADMINISTRATIVE PROCEEDING
DESIST ORDER
MISLEADING
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

   SECURITIES EXCHANGE ACT OF 1934
   Release No. 43372 / September 28, 2000

   ADMINISTRATIVE PROCEEDING
   File No. 3-10318
   In the Matter of

   E.ON AG,

   Respondent.
   ORDER INSTITUTING PUBLIC 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 that public administrative proceedings be, and hereby are,
   instituted pursuant to Section 21C of the Securities Exchange Act of
   1934 ("Exchange Act") against E.ON AG ("E.ON"), formerly known as Veba
   AG ("Veba").

   II.

   In anticipation of the institution of these proceedings, E.ON 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 to
   which the Commission is a party, E.ON, without admitting or denying
   the findings set forth herein, except as to the Commission's
   jurisdiction over it and over the subject matter of these proceedings,
   which is admitted, consents to the entry of 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.

   III.

   FACTS

   On the basis of this Order and E.ON's Offer of Settlement, the
   Commission makes the following findings

   A. Summary

SNIPPETS:
  • ADMINISTRATIVE PROCEEDING
  • ORDER INSTITUTING PUBLIC PROCEEDINGS PURSUANT TO SECTION 21C OF THE SECURITIES EXCHANGE ACT
  • The Securities and Exchange Commission deems it appropriate that public administrative
  • In anticipation of the institution of these proceedings, E.ON has submitted an Offer of
  • Solely for the purpose of these proceedings, and any other proceedings brought by or on sing A Cease-and-Desist Order.
  • Veba, one of Germany's five largest industrial holding companies with securities registered
  • Veba's repeated denials were widely disseminated in Germany and were also reported in the
  • Certain denials, drafted by Veba in both German and English, were made with the expectation
  • This policy was implemented in June 1999 at the direction of Veba's CEO and the Chairman of
  • Respondent
  • One month earlier, on June 28, 1999, Veba and Viag reached a mutual understanding concerning
  • Veba's Director of Corporate Communications
  • Spokesperson reported to the Director of Communications who reported directly to Veba's
  • a reporter for the German newspaper advised Veba's Spokesperson that he had information that
  • After consulting with the CLO, the Spokesperson accurately told the reporter that a
  • That day, Veba's press department distributed the article to the Chairman, the CFO and the
  • Veba's senior management was very upset about this article, and ordered the Director of
  • The Spokesperson then called the Reuters reporter and provided the following statement "here
  • Section 10of the Exchange Act and Rule 10b-5 thereunder prohibit an issuer from making public
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