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Please note: We are unable to commence the distribution of the Enron Fair Fund at this time. On Monday April 9, 2012, the SEC put a hold on all funds to be distributed to harmed investors from SEC Fair Funds as a result of a GAO decision finding that post-judgment interest recovered by the SEC in its enforcement actions may not be distributed to injured investors, as the SEC has done in the past. We are therefore not to distribute any funds to harmed investors on behalf of the SEC until the post-judgment interest issue has been resolved. The SEC is currently engaged in discussions with GAO to address this issue. The SEC expects the moratorium to be a temporary measure. If you would like further information please click here and you will be directed to the GAO decision. Please continue to monitor the website for further updates, and contact the Distribution Agent if you have any additional questions. |
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As a result of the investigation of the Enron securities fraud, the SEC commenced several civil enforcement and administrative cease-and-desist proceedings seeking recovery for damages caused by parties that allegedly were involved in the fraud. Numerous parties, including corporate and individual defendants, collectively paid approximately $450 million as part of their settlements of the SEC actions. The proceeds of these settlements were contributed to a fund, the Enron Fair Fund, to be distributed to investor victims of the fraud in accordance with the Fair Funds for Investors provision of the Sarbanes-Oxley Act of 2002, 15 U.S.C. § 7246(a). The Enron Victim Trust is responsible for processing Fair Fund claims and making payments to eligible claimants. On October 8, 2008, Judge Melinda Harmon of the U.S. District Court for the Southern District of Texas approved a Distribution Plan that sets forth eligibility criteria and other rules governing the distribution of the Enron Fair Fund. If you purchased shares of Enron common and/or preferred stock during the period beginning January 20, 1998 and continuing through the close of markets on November 7, 2001, you may be eligible to participate in the distribution of the Enron Fair Fund. The Fair Fund will be distributed to eligible Enron investors who submit valid Proof of Claim Forms to the Enron Victim Trust. |
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There is a separate Enron class action settlement being administered by Gilardi & Co., LLC, but the claims bar date was April 30, 2008. Please note that even if you have already submitted a claim in the class action, you may still be eligible to recover from the Enron Victim Trust. You must submit a separate Proof of Claim Form including documentation to the Enron Victim Trust in order to be eligible to participate in the distribution of the Enron Fair Fund. |
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