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Leatt Corporation: SEC Ends Investigation With a Recommendation of No Action

^{Published on 2010-07-12 09:30:28 - Market Wire}
 

CAPE TOWN, SOUTH AFRICA--(Marketwire - July 12, 2010) - Leatt Corporation (Company) (PINKSHEETS: [ LEAT ]), a Nevada, USA corporation headquartered in Cape Town, South Africa and the distributor of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced that the Securities and Exchange Commission or "SEC" advised the Company on June 28, 2010, that it has concluded its investigation of the Company and has recommended no enforcement action against the Company. This ends the SEC's investigation of the company in connection with a March 2007 temporary trading halt of trading in the stock of 35 companies, including that of Leatt Corporation.

"We are pleased that this matter is closed. The company was not involved in any improper promotion of our stock by others," said Company Chief Executive Officer Sean Macdonald.

About Leatt Corporation: Leatt Corporation is the exclusive global distributor of the Leatt-Brace®, a Neck Brace designed to help prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The company's operations and research and development of the core products currently take place at Leatt Corporation's offices in Cape Town, South Africa.

Safe Harbor Statement: Any "forward-looking statements" herein are governed by and protected by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, and do not necessarily indicate future performance or prospects of the Company or its subsidiaries.