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U.S. Securities and Exchange Commission


Litigation Release No.17000 / May 14, 2001

Securities and Exchange Commission v. Pacific Biometrics, Inc.
Civil No. 1:01CV0141 (D.D.C.) (filed May 10, 2001).

On May 10, 2001, the Commission filed a complaint in the United States District Court for the District of Columbia against Pacific Biometrics, Inc. The complaint alleges that Pacific Biometrics, a publicly-traded California-based company, failed to make available to the investing public current and accurate information about its financial condition and results of operation through the filing of periodic reports with the Commission as required by the Securities Exchange Act of 1934 ("Exchange Act"). Specifically, the complaint alleges that Pacific Biometrics has not filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2000; its Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, September 30 and December 31, 2000; and four Notifications of Late Filing with respect to its delinquent reports.

Simultaneously with the filing of the complaint, Pacific Biometrics admitted the violations and consented to the entry of a final judgment enjoining it from further violations of Section 13(a) of the Exchange Act of 1934 and rules 12b-25 and 13a-13 thereunder, and ordering it to file its delinquent reports on or before June 29, 2001.