Business
SEC Suspension of Trading
SEC Suspension of Trading.
About this update from Zoom Technologies Inc.
[{"type":"text","content":"UNITED STATES OF AMERICABefore theSECURITIES AND EXCHANGE COMMISSIONSECURITIES EXCHANGE ACT OF 1934Release No. 88477 / March 25, 2020The Securities and Exchange Commission (\"Commission\") announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the \"Exchange Act\"), of trading in the securities of Zoom Technologies, Inc. (\"ZOOM\") (CIK #0000822708) at 9:30 a.m. EDT on March 26, 2020, and terminating at 11:59 p.m. EDT on April 8, 2020.The Commission temporarily suspended trading in the securities of ZOOM because of concerns about the adequacy and accuracy of publicly available information concerning ZOOM, including its financial condition and its operations, if any, in light of the absence of any public disclosure by the company since 2015; and concerns about investors confusing this issuer with a similarly named NASDAQ-listed issuer, providing communications services, which has seen a rise in share price during the ongoing COVID-19 pandemic. ZOOM is a Delaware corporation that reported in 2014 having its principal executive offices in Beijing, China. Unsolicited customer quotations for its common stock are quoted by brokerdealers on OTC Link operated by OTC Markets Group, Inc. under the ticker symbol ZOOM.The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not they have complied with the rule, they should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, they should refrain from entering quotations relating to ZOOM’s securities until such time as they have familiarized themselves with the rule and are certain that all of its provisions have been met. If any broker or dealer enters an...