STRATTON OAKMONT RESPONDS TO SEC CIVIL SUIT
STRATTON OAKMONT RESPONDS TO SEC CIVIL SUIT LAKE SUCCESS, N.Y., March 20 /PRNewswire/ -- Stratton Oakmont, Inc.
today issued a statement in response to a civil action filed earlier today by the Securities and Exchange Commission in the U.S. District Court for the Southern District of New York.
The Lake Success-based company said: "The SEC is not seeking an asset freeze in this matter because it is unwarranted, and the SEC is unable to accomplish such an action. Stratton Oakmont is well-capitalized, and an asset freeze at this time is not justified. Stratton Oakmont plans vigorously to defend itself. These charges are nothing more than a rehash of stale allegations. Stratton Oakmont has thousands of customers who are very supportive. The firm makes markets in NMS and NASDAQ securities." -0- 3/20/92 /CONTACT: Peter Rosenthal or David Sternstein of Howard J. Rubenstein Associates, 212-489-6900, for Stratton Oakmont/ CO: Stratton Oakmont Inc. ST: New York IN: SU:
SH-CK -- NY059 -- 0155 03/20/92 14:17 EST
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|Date:||Mar 20, 1992|
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