Del spells relief SEC
The Securities and Exchange Commission has relieved Del Global Technologies from requirements to file selected financial data for fiscal years 1999 and 1998. Consequently, the beleaguered maker of x-ray equipment need file only three years of financial
The Securities and Exchange Commission has relieved Del Global Technologies from requirements to file selected financial data for fiscal years 1999 and 1998. Consequently, the beleaguered maker of x-ray equipment need file only three years of financial data rather than five. Del executives successfully argued that they could not prepare reliable statements of operations for FY 1999 and 1998 due to a turnover in personnel and the absence of records. With this, the company can now file a form S-1 registration statement with the SEC covering the issuance of one million shares underlying the warrants issued by Del as part of a shareholder class action suit. The SEC must review and declare effective the issuance of shares.
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