Securities Exchange Act of 1934
Release No. 50313 / September 3, 2004
Admin. Proc. File No. 3-11629
Proceedings Instituted against Piranha, Inc.
The Commission instituted administrative proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against Piranha, Inc. of Richardson, Texas, seeking a suspension or revocation of the registration of its common stock. In the Order Instituting Proceedings ("Order"), the Division of Enforcement alleges that Piranha failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder by failing to file required annual and quarterly reports since on or about March 2001.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Piranha an opportunity to dispute the allegations and to determine whether to suspend or revoke the registration of its securities.
The Order requires the Administrative Law Judge to issue an initial decision no later than 120 days from the date of service of the Order, pursuant to Rule 360(a)(2) of the Commission's Rules of Practice.
See also the Order in this matter