SEC terminates inquiry of RF Industries

SAN DIEGO — RF Industries announced last week that it had been informed by the U.S. Securities and Exchange Commission Pacific regional office that its “present staff inquiry … has been terminated and that, at this time, no enforcement action has been recommended to the commission.”

RF Industries reported on Feb. 13 that the SEC had issued a formal order of inquiry examining the potential for violations of certain federal securities laws.

The SEC’s communication further stated, “ … in cases where such action appears appropriate, it [commission staff] may advise a person under inquiry that its formal investigation has been terminated. Such action on the part of the staff will be purely discretionary on its part … . Even if such advice is given, however, it must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff’s investigation of that particular matter. All that such a commission means is that the staff has completed its investigation and that at the time no enforcement action has been recommended to the commission.”

“RF Industries has cooperated fully with the SEC in its investigation. Management will now be able to more fully devote its time, energy and expenses to enhance long-term shareholder value,” said Howard Hill, president of RF Industries.