SEC v LAURA M. DREWS RELEASE NOS. 34-41928


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Keywords & Phrases

CaseNo: 34-41928, Defendant: Laura M. Drews Release Nos. 34-41928, Plaintiff: SEC, UniqueCaseRef: SEC>34-41928, Drews, Knowledgeware, Sales, Exchange Act, Commission, Resellers, Letters, Proceeding, Transactions, Contingent Payment Terms, Contingent Payment, Securities, Revenue, Subordinates, Rights, Administration, Violations, Purported Sales Transactions, Pursuant, Findings, Reports, Submitting, Officers, Books, Recognition, Order Administration Personnel, Tafs, Improper, Employees, Materially False , ContentID: 120245273

Case Documents

1999-09-28

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 112012

5 pages
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Total Documents: 1 document , 5 pages

Price: $ 19.95

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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

KNOWLEDGEWARE
SALES
EXCHANGE ACT
COMMISSION
RESELLERS
LETTERS
PROCEEDING
TRANSACTIONS
CONTINGENT PAYMENT TERMS
CONTINGENT PAYMENT
SECURITIES
REVENUE
SUBORDINATES
RIGHTS
ADMINISTRATION
VIOLATIONS
PURPORTED SALES TRANSACTIONS
PURSUANT
FINDINGS
REPORTS
SUBMITTING
OFFICERS
BOOKS
RECOGNITION
ORDER ADMINISTRATION PERSONNEL
TAFS
IMPROPER
EMPLOYEES
MATERIALLY FALSE

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934
Release No. 41928 / September 28, 1999

   Accounting and Auditing Enforcement
   Release No. 1164 / September 28, 1999

   Administrative Proceeding
   File No. 3-10039

   _________________________________
   In the Matter of                  ORDER INSTITUTING PUBLIC
                                     PROCEEDINGS PURSUANT TO
   Laura M. Drews,                   SECTION 21C OF THE
                                     SECURITIES EXCHANGE ACT OF 1934,
                                     MAKING FINDINGS, AND
   Respondent.                       CEASE-AND-DESIST ORDER AND
                                     ORDER OF DISGORGEMENT
   _________________________________

   I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate and in the public interest that public administrative
   proceedings be, and hereby are, instituted pursuant to Section 21C of
   the Securities Exchange Act of 1934 ("Exchange Act") against Laura M.
   Drews ("Drews").

   II.

   In anticipation of the institution of these administrative
   proceedings, Drews has submitted an Offer of Settlement ("Offer"),
   which the Commission has determined to accept. Solely for the purpose
   of this proceeding and any other proceeding brought by or on behalf of
   the Commission or to which the Commission is a party, and without
   admitting or denying the findings contained herein, except as to the
   Commission's finding of jurisdiction over her and the subject matter
   of this proceeding, which Drews admits, Drews consents to the issuance
   of this Order Instituting Proceedings ("Order") and to the entry of
   the findings and the imposition of relief set forth below.

   III.

   FINDINGS

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission deems it appropriate and in the public interest that

In anticipation of the institution of these administrative proceedings, Drews has submitted

Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of

Specifically, from at least July 1, 1993 through June 30, 1994, KnowledgeWare and certain of

As a result, KnowledgeWare's books and records were inaccurate and its interim reports on

KnowledgeWare's common stock was registered with the Commission pursuant to Section 12of the

In negotiating purported sales transactions with resellers of computer software products,

Drews obtained, or authorized her subordinates to obtain, from such Resellers executed

Drews sent, or authorized her subordinates to send, the Order Letters to KnowledgeWare's

Drews authorized her subordinates to prepare and sign separate letters to such Resellers

Drews prepared, or authorized her subordinates to prepare, and signed Transaction Approval

KnowledgeWare recognized revenue on these purported sales transactions, although the

By reason of the conduct and events set forth above, Drews violated, and was a cause of

Before entering into transactions with terms that differed from KnowledgeWare's standard


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