Sport-Haley, Inc. is pursuing settlement of claims brought against it and one of its former officers by the United States Securities & Exchange Commission. The SEC attorneys in Denver handling the case will recommend that the settlement proposals be approved by the full Commission in Washington, D.C.
Denver lawyer Steven W. McDonald, who represents Sport-Haley, Inc., stated, “We have submitted a proposal to the SEC's Denver regional office which, if approved by the full Commission in Washington, D.C., would end the litigation against Sport-Haley. I have also been advised by counsel for Steve Auger, a former officer of Sport-Haley, Inc., that a settlement proposal has also been submitted to the SEC's Denver office on Mr. Auger's behalf. The settlement proposal submitted by Mr. Auger would also, if approved, end the litigation against him. The lawyers handling the case for the SEC have advised that they will recommend acceptance of both settlement proposals by the full Commission. The Court has issued an Order requiring that the settlements, if approved by the Commission, be submitted to the Court by no later than September 30, 2005.” Mr. McDonald cautioned that the settlements would not be complete until approved by the Securities & Exchange Commission in Washington, D.C., and by the Court.
