UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 50612 / October 29, 2004
Admin. Proc. File No. 3-11724
PROCEEDINGS INSTITUTED AGAINST NEUROTECH DEVELOPMENT CORPORATION
The United States Securities and Exchange Commission ("Commission") instituted administrative proceedings pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against Neurotech Development Corporation ("Neurotech") of Roslyn, New York, to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of Neurotech's securities pursuant to Section 12(j) of the Exchange Act. In the Order Instituting Proceedings ("Order"), the Division of Enforcement alleges that Neurotech 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 the period ended December 31, 2002.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Neurotech an opportunity to dispute the allegations, and to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke the registration of Neurotech's 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