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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
NET EARNINGS ACCOUNTING COMMISSION EXCHANGE ACT CONTROLLER ENTRIES LAMINATES DIVISION CAUSED VIOLATIONS OVERSTATE REPORTED NET EARNINGS INVENTORY RESTATED NET EARNINGS SECURITIES EXCHANGE ACT PURSUANT RESPONDENT PLANT CONTROLLER INACCURATE FINDINGS GROVE VILLAGE OPERATING BOOKS JOURNAL ENTRIES GENERAL LEDGER PROPER INTERNAL ACCOUNTING CONTROLS FAILING CONTAINED FINANCIAL STATEMENTS IMPROPER INACCURATE FORM |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 41930 / September 28, 1999
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1176 / September 28, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-10041
_____________________________
)
In the Matter of )
) ORDER INSTITUTING
) CEASE-AND-DESIST PROCEEDINGS
) PURSUANT TO SECTION 21C OF THE
MATERIAL SCIENCES ) SECURITIES EXCHANGE ACT OF
CORPORATION ) 1934, MAKING FINDINGS AND
) IMPOSING A CEASE-AND-DESIST
Respondent ) ORDER
_____________________________ )
I.
The Securities and Exchange Commission ("Commission") deems it
appropriate that cease-and-desist proceedings be instituted pursuant
to Section 21C of the Securities Exchange Act of 1934 ("Exchange Act")
against Material Sciences Corporation ("MSC").
II.
In anticipation of the institution of these cease-and-desist
proceedings, Respondent has submitted an Offer of Settlement ("Offer")
which the Commission has determined to accept. Solely for the purpose
of this proceeding, and any other proceedings brought by or on behalf
of the Commission, or to which the Commission is a party, and without
admitting or denying the findings herein, except as to the
Commission's jurisdiction over it, which is admitted, Respondent
consents to the entry of this Order Instituting Cease-and-Desist
Proceedings Pursuant to Section 21C of the Securities Exchange Act of
1934, Making Findings and Imposing a Cease and Desist Order ("Order").
III.
On the basis of this Order and the Offer submitted by Respondent, the
SNIPPETS:
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