SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: peter gucker who wrote (4968)	10/19/1996 10:28:00 PM
From: ron giannamore	of 13351

all,there was an update in barrons about Novatek. after the article last week about the company, the sec halted the stock tues. the article spells out what the sec can do, more or less... a 10 buisness day trading halt is the maximum statutory halt under sec regulations... if the sec finds fraud during the two week halt, it could seek a court order enjoining the companys officiers and other insiders from selling their stock or disposing of other assets and prohibiting the company from further dissemination of false information.... it also could refer the case to the justice dept. for a criminal investigation. However, because the sec probe appears to be in early stages, months could pass before any such action is taken, if the agency deems justified...

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