The Securities and Exchange Commission Announces a Fair Fund for Investors who Held Shares of America West Resources, Inc. Common Stock

WASHINGTON, Oct. 8, 2018 /PRNewswire/ --

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
Securities and Exchange Commission
v.
John Babikian
No. 1:14-cv-01740-PAC

SUMMARY NOTICE TO AMERICA WEST RESOURCES, INC. INVESTORS

If you held shares of America West Resources, Inc. Common Stock on February 23, 2012 and/or February 24, 2012 and suffered a loss according to the Distribution Plan you may be eligible for a payment from the Fair Fund.

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.  IF YOU SATISFY THE ELIGIBILITY CRITERIA, YOU MAY BE ENTITLED TO RECEIVE A DISTRIBUTION PAYMENT FROM THE FAIR FUND.  THIS NOTICE CONTAINS IMPORTANT INFORMATION REGARDING YOUR ELIGIBILITY.

Background

The Fair Fund was established by the Court to distribute $3.7 million in disgorgement, prejudgment interest and civil money penalties paid by John Babikian ("Babikian") in settlement of Securities and Exchange Commission v. John Babikian (No. 1:14-cv-01740-PAC). The Fair Fund is to be distributed to America West Resources, Inc. ("America West") investors harmed as a result of Babikian's fraudulent promotion and illegal "scalping" of America West, a Utah-based coal mining corporation, by using a platform of affiliated microcap stock promotion websites. The Fair Fund is intended to compensate investors who purchased America West stock and suffered harm as a result pursuant to the Distribution Plan approved by this Court on September 4, 2018. A copy of the Distribution Plan Notice, which contains a description of all eligibility and other conditions to participation, Proof of Claim Form, and other important documents relating to the Fair Fund can be found at www.SECvJohnBabikianFairFund.com or the Securities and Exchange Commission's ("SEC" of "Commission") website at www.sec.gov.

Who is Eligible?

Any person or entity that purchased America West common stock on February 23, 2012 and/or February 24, 2012, may be eligible to receive a distribution payment from the SEC v. John Babikian Fair Fund subject to certain other eligibility limitations described in the Distribution Plan.

Obtaining a Distribution Plan Notice and Proof of Claim Form

If you believe you may be eligible you must submit a complete Proof of Claim Form to the Fair Fund Distribution Agent postmarked no later than January 2, 2019, to be eligible to participate in the Fair Fund.  Proof of Claim Forms will be mailed to potentially eligible claimants identified by the Fair Fund Distribution Agent. In addition, you may download and print the Proof of Claim Form from the Fair Fund Website at www.SECvJohnBabikianFairFund.com or you may request that the Fair Fund Distribution Agent send you a Proof of Claim Form by calling (844) 616-6342, emailing [email protected] or writing to SEC v. John Babikian Fair Fund, P.O. Box 2995, Portland, OR 97208-2995.

URL: www.SECvJohnBabikianFairFund.com

SOURCE United States District Court For The Southern District of New York

Related Links

https://www.secvjohnbabikianfairfund.com/