According to the SEC Office of Investor Education and Advocacy,
that isn't true. They say that many times they only have questions that need to be addressed:
Why would the SEC suspend trading in a stock?
The SEC may suspend trading in a stock when the
Commission is of the opinion that a suspension is
required to protect investors and the public interest.
Circumstances that might lead the Commission to
suspend trading include:
A lack of current, accurate, or adequate
information about the company, for example,
when a company is not current in its filings of
periodic reports;
Questions about the accuracy of publicly
available information, including in company press
releases and reports, about the company’s current
operational status, financial condition, or business
transactions;
Questions about trading in the stock, including
trading by insiders, potential market manipulation,
and the ability to clear and settle transactions in
the stock.