Summary Notice: Second Distribution Plan For The Logitech Fair Fund Established By The Securities & Exchange Commission
BEAVERTON, Ore., Oct. 18, 2021 /PRNewswire/ --The following statement is being issued by Epiq, the Fund Administrator appointed in the administrative action captioned below.
ADMINISTRATIVE PROCEEDING File
No. 3-17212
In the Matter of
LOGITECH INTERNATIONAL, S.A., MICHAEL DOKTORCZYK, and SHERRALYN BOLLES, CPA, Respondents.
If you purchased Logitech ordinary stock (LOGN) on the SIX Swiss Exchange (the "Security") during the period from May 28, 2011 through July 27, 2011, inclusive (the "Recovery Period"), you may be eligible for compensation.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
YOU MAY BE ELIGIBLE FOR RECOVERY FROM THE LOGITECH FAIR FUND.
THIS NOTICE CONTAINS IMPORTANT INFORMATION REGARDING THE LOGITECH FAIR FUND AND THE CLAIMS PROCESS.
What this case is about:
On April 19, 2016, the Securities and Exchange Commission (the "Commission") issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Cease-and-Desist Orders and Penalties (the "Order") against the Respondents. In the Order, the Commission found Logitech responsible for recurring instances of improper accounting between 2008 and 2013 related to a product write-down, warranty liabilities, and revenue recognition. The Commission further found Doktorczyk and Bolles, both former officers of Logitech, responsible for the improper accounting for warranty liabilities that occurred during their employment. The Commission ordered Logitech, Doktorczyk, and Bolles to pay civil money penalties of $7,500,000.00, $50,000.00, and $25,000.00, respectively.
On February 27, 2018, the Commission established a Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so that the $7.575 million in civil money penalties paid by the Respondents could be distributed for the benefit of the injured investors (the "Logitech Fair Fund"). The assets of the Logitech Fair Fund are subject to the continuing jurisdiction and control of the Commission.
The Commission approved the first plan of distribution ("First Plan") on October 26, 2018, which resulted in the full compensation, including reasonable interest, of all eligible claimants who purchased shares of Logitech common stock on the Nasdaq Global Select Market.
By Order dated September 20, 2021, the Commission approved the Second Plan of Distribution (the "Second Plan"), pursuant to which the Fund Administrator will distribute the Net Available Fair Fund to Eligible Claimants who purchased the Security during the Recovery Period. You can review the Second Plan, available at www.logitechfairfund.com for more information and for the definitions of the capitalized terms.
Who is Eligible for Compensation
To qualify for a payment from the Fair Fund, you must have purchased Logitech ordinary stock on the SIX Swiss Exchange under the trading symbol LOGN between May 28, 2011 and July 27, 2011, inclusive.
How to Submit a Claim
You can file a Proof of Claim Form by filing a claim online at www.logitechfairfund.com or by mailing the completed form to:
Logitech Fair Fund
c/o Epiq
P.O. Box 10568
Dublin, OH 43017-7268
[email protected]
You must complete and sign the Proof of Claim form and submit it to Fund Administrator so that it is postmarked (or if not sent by U.S. Mail, received by the Fund Administrator) no later than February 15, 2022.
If you have any questions, or if you would like to receive a Proof of Claim Form in the mail, you may call 877-919-5896, send an email to [email protected], or visit www.logitechfairfund.com.
SOURCE Epiq
SOURCE Epiq
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article