From today's SEC Digest:
SEC PROCEEDINGS AGAINST IVES HEALTH COMPANY, INC. BASED ON DELINQUENT FILINGS
On August 27, the Commission instituted a proceeding against Ives Health, an Oklahoma corporation, to determine whether it is appropriate and for the protection of investors to deregister Ives Health's common stock. Trading in the stock was suspended by the Commission for ten days on March 5, 2001, and the company was sued by the Commission in July 2001, as part of a civil injunctive action alleging, among other things, fraudulent press releases regarding an Ives Health product that supposedly treated HIV. The company, which defaulted in the civil injunctive action, was also charged in that action with failure to file required reports with the Commission. The company's failure to file any periodic reports since 2000 (including Forms 10-K for its years ended December 31, 2000 and 2001) is the basis for the administrative proceeding announced today.
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. (Rel. 34-46420; File No. 3-10871)
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