SEC Suspensions & Revocations

[janice shell]

Second the first step is to de-register the stock which gives shareholders another couple years to exist because the paperwork has to be submitted and approved by a judge.

No. When a delinquent filer is suspended, the SEC usually issues an OIP to revoke registration on the same day. Nowadays, companies in this situation either agree to accept revocation, or simply don't respond to the action. Either way, their registration will be revoked within a few months, and often more quickly than that.

If the stock was suspended for suspected fraud, the SEC may or may not eventually litigate. That can take up to five years. In the meanwhile, it'll trade on the Greys, to the extent it trades at all.