Fidelity Medical
This article was originally published in The Gray Sheet
Executive Summary
Agrees to file consent with the Securities and Exchange Commission "to the entry of a permanent injunction against violations of certain anti-fraud, periodic reporting, record- keeping and internal accounting control provisions of the federal securities laws," the marketer of electronic systems for medical imaging and cardiodiagnosis announces March 28. The agreement, which concludes an SEC investigation into Fidelity's revenue recognition practices under prior management up until May 1992 ("The Gray Sheet" Aug. 24, 1992, p. 11), is neither admission nor denial by Fidelity of SEC's allegations, the firm states. The permanent injunction is expected "within the next several weeks"