SECURITIES EXCHANGE ACT OF 1934
Release No. 43136 / August 10, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10268
HERBERT M. CAMPBELL II TEMPORARILY SUSPENDED PURSUANT TO RULE 102(e)(3)
Herbert M. Campbell II, an attorney, has been temporarily suspended from appearing or practicing before the Commission pursuant to Rule 102(e)(3) of the Commission's Rules of Practice. Campbell, formerly the senior vice president and general counsel of Solv-Ex Corporation, made numerous false and misleading statements regarding Solv-Ex in Commission filings, press releases, letters to shareholders and conference calls with investors and brokers from January 1995 through April 1997.
On May 16, 2000, the U.S. District Court for the District of New Mexico enjoined Campbell from violating the antifraud and reporting provisions of the federal securities laws. For additional information about the injunction entered against Campbell, see prior litigation release No. 16502 (April 5, 2000). The Commission instituted the Rule 102(e)(3) proceeding and temporarily suspended Campbell based on the injunction entered against him.
If Campbell does not file a timely petition with the Commission to lift the temporary suspension, the suspension will become permanent. If Campbell files a timely petition, the Commission may either lift the temporary suspension or set the matter for an administrative hearing, or both. If a hearing is ordered, following the hearing, the Commission may lift the suspension, censure Campbell, or disqualify Campbell from appearing or practicing before the Commission for a period of time or permanently.