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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
COMMISSION ADMINISTRATIVE PROCEEDING SECURITIES COMMISSION INSTITUTES REPORTS EXCHANGE CIVIL INJUNCTIVE ACTION LAWS ALLEGATIONS COMMISSION SUSPENDED TRADING IVES HEALTH COMMON HEALTH COMMON STOCK COMMISSION NAMED IVES INJUNCTIVE ACTION ALLEGING FRAUDULENT PUMP-AND-DUMP SCHEME PURPORTED HIV TREATMENT VIOLATING ANTI-FRAUD REGISTRATION PROVISIONS GRAND JURY SOUTHERN DISTRICT YORK CHARGES DEFENDANT ADMINISTRATIVE LAW JUDGE DISPUTE SANCTIONS PROTECTION INVESTORS |
United States Securities and Exchange Commission
Securities Exchange Act of 1934
Release No. 46420 / August 27, 2002
Administrative Proceeding File No. 3-10871
Commission Institutes Administrative Proceedings Against Ives Health
Company, Inc.
On August 27, 2002, the Commission instituted an administrative
proceeding against Ives Health Co., an Oklahoma company that has not
filed any required reports with the Commission since its quarter ended
September 30, 2000. The Order Instituting Proceedings alleges that
Ives Health Co. has not filed annual reports on Form 10-K for its
years ended December 31, 2000 and 2001, nor quarterly reports on
Form-Q for five quarters. Previously, the Commission suspended trading
in Ives Health common stock for ten days, beginning on March 5, 2002.
In July 2002, the Commission named Ives Health in a civil injunctive
action alleging a fraudulent pump-and-dump scheme involving a
purported HIV treatment. Ives Health defaulted in that action and has
been permanently enjoined from violating the anti-fraud and
registration provisions of the securities laws. The company was
criminally indicted by a grand jury in the Southern District of New
York on charges similar to those in the SEC civil injunctive action
and remains a defendant in the criminal action.
A hearing will be scheduled before an administrative law judge to
determine whether the allegations contained in the Order are true, to
provide Ives Health an opportunity to dispute these allegations, and
to determine what sanctions, if any, are appropriate and for the
protection of investors.
_________________________________________________________________
Modified 08/29/2002
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