LAKE SUCCESS, N.Y., Dec. 17, 2018 /PRNewswire/ -- The following statement is being issued by Epiq regarding the Logitech Fair Fund.
UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
File No. 3-17212
In the Matter of
LOGITECH INTERNATIONAL, S.A., MICHAEL DOKTORCZYK, and SHERRALYN BOLLES, CPA,
If you purchased shares of Logitech common stock (LOGI) on the Nasdaq Global Select Market (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 YOUR RIGHTS.
What this case is about:
On April 19, 2016, the SEC 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 Logitech International, S.A., Michael Doktorczyk, and Sherralyn Bolles, CPA (the "Respondents"). In the Order, the SEC 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 SEC further found Doktorczyk and Bolles, both former officers of Logitech, responsible for the improper accounting for warranty liabilities that occurred during their employment. The SEC 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 SEC established a Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so that the $7.575 million in civil money penalties paid by the Respondents can be distributed for the benefit of the injured investors (the "Logitech Fair Fund"). The Logitech Fair Fund is deposited in an interest bearing account at the United States Treasury Department's Bureau of the Fiscal Service. The assets of the Logitech Fair Fund are subject to the continuing jurisdiction and control of the SEC.
On November 30, 2017, the SEC appointed Miller Kaplan Arase LLP as Tax Administrator for the Logitech Fair Fund to handle its tax obligations.
On March 30, 2018, the SEC appointed Garden City Group, LLC ("GCG") as the Fund Administrator to assist in developing and executing the Plan. On June 15, 2018, GCG was acquired by Epiq Class Action and Claims Solutions, Inc. and is now continuing as part of Epiq.
On October 26, 2018, the SEC approved a plan to distribute the Logitech Fair Fund (the "Plan"). You can obtain a copy of the Plan at www.logitechfairfund.com, on the SEC's public website at https://www.sec.gov/divisions/enforce/claims/logitech-bardman.htm, or by calling 877-919-5896.
Who is Potentially Eligible for Compensation
To qualify for a payment from the Logitech Fair Fund, you must have purchased the Security on the Nasdaq Global Select Market between May 28, 2011 and July 27, 2011, inclusive, and satisfy other criteria set forth in the Plan.
How to Obtain Compensation
You can file a Proof of Claim Form by mailing the completed form to:
Logitech Fair Fund
P.O. Box 10568
Dublin, OH 43017-7268
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) no later than March 11, 2019.