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1
.
SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
GUILFORD ACCOUNTING EXCHANGE ACT GAFFNEY REPORTS COMMISSION ENTRIES FINANCIAL STATEMENTS GENERAL LEDGER CONTROLS VIOLATION OPERATING INCOME SECURITIES EXCHANGE ACT GUILFORD MILLS RESPONDENT BOOKS ACCOUNTING SYSTEM PERIODIC REPORTS PURSUANT FINDINGS COMMON STOCK TIMOTHY FALSE JOURNAL ENTRIES RESTATE SEPARATE EARNINGS OVERSTATING INVENTORY ISSUERS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 43068 / July 24, 2000
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1287 / July 24, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10258
ORDER INSTITUTING CEASE-AND-
In the Matter of DESIST PROCEEDINGS PURSUANT
TO SECTION 21C OF THE
GUILFORD MILLS, INC., SECURITIES EXCHANGE ACT
OF 1934 AND FINDINGS AND
Respondent. ORDER OF THE COMMISSION
I.
The Commission deems it appropriate to institute public administrative
proceedings pursuant to Section 21C of the Securities Exchange Act of
1934 ("Exchange Act") to determine whether Respondent Guilford Mills,
Inc. violated Sections 13(a) and 13(b)(2) of the Exchange Act and Rule
13a-13 thereunder.
II.
In anticipation of the institution of these administrative
proceedings, Respondent has submitted an Offer of Settlement which the
Commission has determined to accept. Solely for purposes of these
proceedings and any other proceedings brought by or on behalf of the
Commission or to which the Commission is a party, Respondent, without
admitting or denying the matters set forth herein, consents to the
issuance of this Order Instituting Cease-and-Desist Proceedings
Pursuant to Section 21C of the Securities Exchange Act of 1934 and
Findings and Order of the Commission ("the Order"), and to the entry
of the findings, and the imposition of the remedial sanctions, set
forth below.
III.
The Commission finds the following
SNIPPETS:
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