THE FOLLOWING IS AN ANNOUNCEMENT MADE BY THE U.S. SECURITIES AND EXCHANGE COMMISSION.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
NEWS DIGEST
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over the counter trading of the securities of Leah Industries, Inc. ("Leah"), of Toronto, Canada at 9:30 a.m. on Friday, March 12, 1999 and terminating at 11:59 p.m. on Thursday, March 25, 1999.
The Commission temporarily suspended trading in the securities of Leah because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, Leah's relationship with a national auditing firm, and an acquisition Leah made.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Leah's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.
Contact Person: Jacob Lesser (212) 748-8090
Securities Exchange Act Release No. 34-41162
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
March 11, 1999
Leah Industries, Inc.
ORDER OF SUSPENSION
OF TRADING
File No. 500-1
It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Leah Industries, Inc. ("Leah") because of questions regarding the accuracy of assertions by Leah, and by others, in press releases concerning, among other things: (1) Leah's relationship with a national auditing firm; and (2) an acquisition Leah made.
The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above listed company.
Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the above listed company is suspended for the period from 9:30 a.m. EST, on Friday, March 12, 1999 through 11:59 p.m. EST, on Thursday, March 25, 1999.
By the Commission.
Jonathan G. Katz
Secretary |
