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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934
Release No. 46907 / November 26, 2002

Accounting and Auditing Enforcement
Release No. 1675 / November 26, 2002

Administrative Proceeding
File No. 3-10779


In the Matter of
 
     ANICOM, INC.,         
 
Respondent
 


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ORDER MAKING FINDINGS AND REVOKING REGISTRATION OF COMMON STOCK AND SERIES C PREFERRED STOCK PURSUANT TO SECTION 12(j) OF THE SECURITIES EXCHANGE ACT OF 1934

I.

On May 6, 2002, the Securities and Exchange Commission ("Commission") instituted public proceedings against Anicom, Inc. ("Anicom") pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. § 78l(j)].

II.

Anicom has submitted an Offer of Settlement ("Offer"), which the Commission has determined to accept. Solely for the purposes of this proceeding and any other proceeding brought by or on behalf of the Commission or to which the Commission is a party, and prior to a hearing pursuant to the Commission's Rules of Practice, 17 C.F.R. § 201.100 et seq., Anicom, without admitting or denying the findings contained in this Order, except as to the Commission's jurisdiction over it and the subject matter of this proceeding, consents to the entry of this Order Making Findings and Revoking Registration of Common Stock and Series C Preferred Stock Pursuant to Section 12(j) of the Securities Exchange Act of 1934.

III.

Based on the foregoing, and Anicom's Offer, the Commission finds that:

  1. Anicom is registered with the Commission pursuant to Section 12(g) of the Exchange Act, and has been registered since January 11, 1995;
     
  2. Anicom was a national distributor of wire and cable products, and was based in Rosemont, Illinois;
     
  3. On July 18, 2000, Anicom announced that it would restate its financial statements for 1998, 1999, and the first quarter of 2000, and that it had placed President and Chief Executive Officer Carl Putnam and Chief Financial Officer Donald Welchko on administrative leave;
     
  4. Anicom filed for bankruptcy under Chapter 11 of the Bankruptcy Code on January 5, 2001;
     
  5. Anicom failed to file an annual report on Form 10-K for the year ended December 31, 2000;
     
  6. Anicom has failed to file quarterly reports on Form 10-Q for the quarters ended: June 30, 2000; September 30, 2000; March 31, 2001; June 30, 2001; and September 30, 2001;
     
  7. Anicom has discontinued business and liquidated its assets in connection with its petition for bankruptcy filed on January 5, 2001; and
     
  8. Accordingly, Anicom has failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder.

IV.

Section 12(j) of the Exchange Act provides as follows:

The Commission is authorized, by order, as it deems necessary or appropriate for the protection of investors to deny, to suspend the effective date of, to suspend for a period not exceeding twelve months, or to revoke the registration of a security, if the Commission finds, on the record after notice and opportunity for hearing, that the issuer of such security has failed to comply with any provision of this title or the rules and regulations thereunder. No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence.

In view of the foregoing, it is necessary and appropriate for the protection of investors to impose the sanctions specified in Anicom's Offer.

ACCORDINGLY, IT IS ORDERED that the registration of Anicom's common stock and Series C preferred stock is revoked pursuant to Section 12(j) of the Exchange Act.

For the Commission, by its Secretary, pursuant to delegated authority.

 

Jonathan G. Katz
Secretary

 

 

http://www.sec.gov/litigation/admin/34-46907.htm


Modified: 11/26/2002