U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20213 / July 26, 2007
SEC v. KPMG, LLP, et al., Civil Action No. 03 CV 0671 (DLC) (S.D.N.Y.)
SEC v. Paul A. Allaire, G. Richard Thoman, Barry D. Romeril, Philip D. Fishback, Daniel S. Marchibroda, and Gregory B. Tayler, Civil Action No. 03 CV 4087 (DLC) (S.D.N.Y.)
Notice of Nearly $50 million Fair Fund Distribution for the Benefit of Xerox Investors
On July 20, 2007, the United States District Court for the Southern District of New York approved the Securities and Exchange Commission's proposed distribution plan and the appointment of Gilardi & Co., LLC as a distribution agent for the nearly $50 million fair fund created to benefit Xerox investors harmed by the company's financial fraud.
The distribution plan will compensate purchasers of Xerox common stock depending on when they bought and sold those shares. Under the plan, potentially eligible claimants include persons or entities that bought Xerox common stock during the period April 22, 1997 through January 28, 2001, though whether and to what extent they receive compensation will depend on when they sold those shares. Under the plan, potentially eligible claimants also include persons or entities that purchased Xerox common stock prior to April 22, 1997, provided they sold those shares between January 29, 2001 and April 18, 2001.
Gilardi & Co. will post a website to receive claims from Xerox investors. An abbreviated version of the site is now available at www.gilardi.com/xeroxsecfairfund.
A link to the Court order is below.