SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 16376 / November 30, 1999

UNITED STATES SECURITIES AND EXCHANGE COMMISSION V. EQUISURE, INC., 98 CV. 1298 (D.D.C.)

DISTRICT COURT ENTERS DEFAULT JUDGMENT AGAINST COMPANY FOR FAILING TO FILE REPORTS WITH THE COMMISSION

The Securities and Exchange Commission announced that on October 6, 1999 the United States District Court for the District of Columbia entered a default judgment against Equisure, Inc. ("Equisure"), a Minneapolis based corporation. The Commission's complaint alleged that Equisure failed to file annual reports for the fiscal years ending December 31, 1996 and December 31, 1997. Additionally, the Commission's complaint alleged that Equisure failed to file quarterly reports for the fiscal quarters ending March 31, 1998 and June 30, 1998, and the company failed to file a report with the Commission disclosing the resignation of its public accountants in October 1997.

The court's order permanently enjoins Equisure from future violations of Section 13(a) of the Exchange Act and Rules 12b-25, 13a-1, 13a-11, and 13a-13 thereunder. The Court's order also requires Equisure to take the following remedial measures: Equisure must file its annual report with the Commission on Form 10-K for the fiscal years 1996 and 1997; Equisure must file a Form 8-K with the Commission disclosing the resignation of its auditors; Equisure must file with the Commission quarterly reports on Form 10-Q for the fiscal quarters ending March 31, 1998 and June 30, 1998; and Equisure must file with the Commission any periodic or current reports that became due prior to the entry of the court's order.