Purchasers Of Murdoch Security & Investigations, Inc. Equity Shares And Notes May Be Entitled To Payment From An SEC Fair Fund

20 Jan, 2016, 11:21 ET from Securities and Exchange Commission (SEC)

WASHINGTON, Jan. 20, 2016 /PRNewswire/ -- The following statement is being issued by the SEC regarding the SEC v. Murdoch Security & Investigations, Inc. et al case.

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
Securities and Exchange Commission
 v.
Murdoch Security & Investigations, Inc., Robert Goldstein, and William Vassell
Case No. 11-cv-07076 (JGK)

SUMMARY NOTICE OF DISTRIBUTION OF FAIR FUND

IF YOU PURCHASED EQUITY SHARES OR NOTES OF MURDOCH SECURITY & INVESTIGATIONS, INC., YOU MAY BE ELIGIBLE FOR COMPENSATION

The Securities and Exchange Commission ("SEC") alleged in a complaint that defendants Murdoch Security & Investigations ("MSI"), Robert Goldstein ("Goldstein"), and William Vassell sold unregistered securities to investors in violation of Section 5 of the Securities Act of 1933, and defendants MSI and Goldstein provided investors with a wide array of false and otherwise misleading information in an effort to sell both equity shares in MSI and MSI notes in violation of the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder.  Pursuant to the Court's final judgment against Goldstein, Goldstein paid a total of $750,000 to the Court.  The SEC is unlikely to collect any additional funds.  After reserving for expenses related to taxes and fees of the tax administrator and for fees and expenses of the distribution agent, approximately $706,729 is available for distribution to eligible claimants ("Net Fair Fund").

WHO IS ELIGIBLE FOR COMPENSATION?

Kurtzman Carson Consultants, LLC, the distribution agent, has identified 92 injured investors who purchased equity shares of MSI between January 6, 2010 through July 2011 and those who purchased notes of MSI between October 2010 to August 2011.  Those injured investors are eligible for a distribution from the distribution fund.  The distribution agent will provide notice to those injured investors whose contact information has been obtained.  For those investors whose contact information has not been obtained by the distribution agent, this notice serves to inform those investors of the distribution of the Net Fair Fund.  If you believe you may be eligible for a distribution, please contact the distribution agent identified in Additional Information below. 

If you are not sure whether you are eligible for a distribution, you can get more information including a detailed notice of the terms of the distribution, at www.MurdochDistributionFund.com

ADDITIONAL INFORMATION

Distribution updates and copies of court documents are available for download at www.MurdochDistributionFund.com, or by emailing info@MurdochDistributionFund.com, or by calling (415) 798-5915, or by writing to:

Murdoch Distribution Fund
c/o KCC Class Action Services
P.O. Box 40008
College Station, TX 77842-4008

 

SOURCE Securities and Exchange Commission (SEC)



RELATED LINKS

http://www.murdochdistributionfund.com