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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
October 4, 1996
(Date of Report)
SOLV-EX CORPORATION
(Exact Name of Registrant as specified in its charter)
New Mexico
(State or other jurisdiction of incorporation)
0-9897 85-0283729
(Commission File Number) (IRS Employer Identification Number)
500 Marquette N.W., Suite 300, Albuquerque, New Mexico 87102
(Address of principal executive offices including zip code)
(505) 243-7701
(Registrant's telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Solv-Ex Corporation (the "Company") has received a copy of a complaint
filed in the United States District Court for the Southern District of New
York against the Company, its Chairman John S. Rendall, its President W. Jack
Butler, and its Senior Vice President, Herbert M. Campbell II. The complaint
alleges various allegations of purported securities fraud and common law
fraud. The named plaintiff in this purported class action is Alfonso L.
Sedita, a person who has served as plaintiff in at least one other class
action in the last three years.
Management believes that the complaint is based on a mischaracterization
of previous announcements by the Company and on statements taken out of
context. The Company has only recently received the complaint and has not
answered or otherwise formally responded to it. The Company believes that
the complaint is inadequate on a number of grounds and is replete with half
truths, misstatements and omissions. The Company also believes that the
complaint may be a continuation of efforts by unknown individuals to cause
irreparable damage to Solv-Ex and its shareholders. The Company intends to
vigorously defend this action.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: October 11, 1996 SOLV-EX CORPORATION
(Registrant)
By /s/ Herbert M. Campbell II
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Herbert M. Campbell II,
Senior Vice President
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