NEW YORK, July 23, 2018 (GLOBE NEWSWIRE) -- The Securities and Exchange Commission announces that a Fair Fund has been created for eligible investors that would benefit purchasers of common stock of Orthofix International N.V.
SUMMARY NOTICE OF FAIR FUND AND DEADLINE TO FILE PROOFS OF CLAIM
TO: ALL ELIGIBLE INVESTORS WHO PURCHASED THE COMMON STOCK OF ORTHOFIX INTERNATIONAL N.V. BETWEEN MARCH 2, 2010 AND AUGUST 7, 2013, INCLUSIVE.
On January 18, 2017, the Commission issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (“Orthofix Order”) against Orthofix International N.V. (“Orthofix”). The Orthofix Order required Orthofix to pay an $8,250,000.00 civil money penalty, and created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the penalty could be distributed to harmed investors (the “Orthofix Fair Fund”). The Orthofix Order further provided that the Orthofix Fair Fund could receive funds from and/or be combined with fair funds established for civil penalties paid by other respondents for conduct arising in relation to the violative conduct at issue in the Orthofix Order.
The Commission simultaneously issued three settled orders in related matters (collectively, the “Related Matters”) against Jeffrey Hammel, CPA, Bryan McCollum, Kenneth Mack and Brian McMillan. Jeffrey Hammel’s order required him to pay a $20,000.00 civil money penalty, and Bryan McCollum’s order required him to pay a $35,000.00 civil penalty. Kenneth Mack and Brian McMillan’s order required them to pay a $40,000.00 and $25,000.00 civil money penalty, respectively. Each order created a fair fund and provided that it could be added or combined with the Orthofix Fair Fund and/or may be added to or combined with fair funds established for the civil penalties paid by other respondents for conduct arising in relation to the violative conduct at issue in the order, so that the combined fair funds could be distributed to harmed investors affected by the same violative conduct.
Orthofix has paid $8,250,000.00 as ordered into the Orthofix Fair Fund, and a total of $120,023.32 has been paid, as ordered, in the Related Matters, which has been combined with the Orthofix Fair Fund, for a total of $8,370,023.02, for distribution to harmed investors.
If you are an eligible investor who did not submit a claim form in connection with the Plumbers & Pipefitters National Pension Fund v. Orthofix International N.V., et al., Case No.: 1:13-cv-5696-JGK (S.D.N.Y), you must complete and execute a Proof of Claim form and return it by mail, postmarked no later than October 22, 2018, to Orthofix SEC Fund, c/o Strategic Claims Services, 600 N. Jackson Street – Suite 205, Media, PA 19063 in order to be eligible to receive a distribution. You may request a Notice of Fair Fund and Deadline to File Proofs of Claim, as well as a copy of the Proof of Claim form, by writing to the address listed above; or emailing to info@strategicclaims.net; or calling 866-274-4004.
If you have any questions about this Notice, the Fair Fund or the filing of a Proof of Claim, please direct them to the Fund Administrator via email to info@strategicclaims.net; visit the website at www.strategicclaims.net/orthofixsec; or call 866-274-4004. Please do not contact the SEC.
Dated: June 22, 2018