29 January 2005 – LAWFUEL – The Law News Network -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 trading in the securities of Courtside Products, Inc
(“Courtside”), of Spokane, WA at 9:30 a.m. EST on January 28, 2005, and
terminating at 11:59 p.m. EST on February 10, 2005.
The Commission temporarily suspended trading in the securities of Courtside
because of questions that have been raised concerning Courtside’s reliance
on Rule 504 of Regulation D of the Securities Act of 1933 in conducting a
distribution of its securities which failed to comply with the resale
restrictions of Regulation D. Courtside, a company that has made no public
filings with the Commission or the NASD, is quoted on the Pink Sheets under
the ticker symbol CSDP, and has recently been the subject of spam e-mail
touting the company’s shares.
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 Courtside’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.
If any broker dealer or other person has any information that may relate to
this matter, they should immediately communicate it to John Reed Stark,
Chief of the Office of Internet Enforcement and Counsel to the Director,
Division of Enforcement at the Securities and Exchange Commission. He can
be reached at (202) 942-4803, or by e-mail at StarkJ@sec.gov.
