I didn't see where J B Oxford found it important enough to mention either, but they have got much worse problems.
Form 10-Q for JB OXFORD HOLDINGS INC filed on May 15 1998
For the quarterly period ended March 3l, 1998
Item 1. Legal Proceedings The Company and/or its subsidiaries are a party to a number of pending legal or administrative proceedings, all of which have arisen in the ordinaryconduct of its business. Those which may have a significant impact on the Company have been disclosed in previous filings. The Company is under investigation by the Securities and ExchangeC ommission (the "SEC") and the Los Angeles office of the United StatesAttorney's Office (the "USAO"). Both investigations focus on the Company'sprior relationship with, and the activities of, a former consultant of the Company and possible market manipulation. In August 1997, in connection with both investigations, the government agencies mentioned above served the Company and certain of its officers, directors, and employees with subpoenas dueces tecum and Grand Jury subpoenas, respectively. The Company has retained counsel in these matters and has cooperated fully with both the SECand USAO. To date, no charges have been brought against the Company as aresult of the SEC's investigation or the USAO's investigation. At this stage, it is not possible to predict the ultimate outcome nor financial impact, if any, of the investigations of the Company.
zonkie... |
