SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST RALPH W. LEBLANC
The Securities and Exchange Commission ("Commission") announced that on September 30, 1999, it issued an Order Instituting Public Administrative Proceedings Pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Order") against Ralph W. LeBlanc of Harvey, Louisiana.
The Order alleges that the Commission filed suit against LeBlanc in September 1997, alleging violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder (the antifraud provisions of the federal securities laws) in connection with the sale of Alpha Diversified Industries, Inc. securities. The Order also alleges that LeBlanc was permanently enjoined from such future violations on March 26, 1999.
A hearing will be scheduled to take evidence on the staff's allegations and to afford the respondent an opportunity to present any defenses thereto. The purpose of the hearing is to determine whether the allegations are true, and whether any remedial action should be ordered by the Commission.