If you purchased OWC Pharmaceutical Research Corp. stock between November 2016 and September 2017, you may be eligible for distribution from the Jeffrey Friedland Fair Fund

SEATTLE, Feb. 4, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT District of COLORADO

On March 5, 2018, the Securities and Exchange Commission (the "SEC" or "Commission") filed a Complaint against Jeffrey O. Friedland ("Friedland"), Global Corporate Strategies, LLC ("Global'), and Intivia Pharma LLC ("Intivia"), (collectively the "Defendants"), and Lane 6552 LLC ("Lane"), Kathy B. Friedland, Assurance Management, LLC ("Assurance") and The Jeffrey and Kathy Friedland Irrevocable Trust ("Friedland Trust"), (collectively the "Relief Defendants") alleging violations of the federal securities laws.  Specifically, the Complaint alleged that, Friedland engaged in a nearly $7 million securities fraud scheme to conceal the nature of his interest in an Israeli medical marijuana company, OWC Pharmaceutical Research Corp. ("OWCP"), to allow him to sell his considerable holdings in OWCP stock into a market that he helped artificially inflate.  As part of his scheme, Friedland touted OWCP to investors while misrepresenting both the nature of his investments in OWCP and his professional relationship with the company.  Between August 2014 and February 2016, Friedland acquired 6.4 million shares of OWCP stock.  Between February 2016 and September 2017, Friedland touted OWCP to the media, industry and investors, creating the false impression that he was merely an investor in OWCP, when he was in fact paid with millions of OWCP stock to promote the company. On December 4, 2019, upon consent of the parties, the Court entered a Final Judgment against the Defendants.  The Judgment found:  Friedland and Global jointly and severally liable for disgorgement $2,089,979.02 and pre-judgment interest of $69,020.98; Friedland liable for a civil penalty of $2,000,000; and Intiva liable for disgorgement of $20,000, for a total amount of $4,179,000. Defendants have paid the $4,179,000 ordered pursuant to the Judgment.  The funds are currently held in an interest-bearing account at the Bureau of Fiscal Services of the U.S. Treasury Department (the "Fair Fund").  The Jeffrey Friedland Fair Fund currently consists of the amounts paid and interest earned to date.

Company (Trading Symbol) [Relevant Period start and end dates (inclusive)]:

• OWC Pharmaceutical Research Corp. (OWCP) [11/18/16 through 9/22/17]

On May 4, 2020, the United States District Court, District of Colorado established a Fair Fund and appointed Miller Kaplan Arase LLP as Tax Administrator, and on April 6, 2021, appointed JND Legal Administration as Distribution Agent (the "Distribution Agent") for administration of the Fair Fund.  On December 7, 2021, the Court approved a plan for the distribution of the Jeffrey Friedland Fair Fund (the "Plan").  The Plan is publicly available at www.jeffreyfriedlandfairfund.com.

If you purchased the security set forth above during the Relevant Period and would like to be considered for eligibility for a distribution from the Jeffrey Friedland Fair Fund, you must submit a completed and signed Proof of Claim Form ("Claim Form"), including adequate supporting documentation of your transactions and a completed tax certification, to the Distribution Agent by the Filing Deadline.

The Claim Form is available at www.jeffreyfriedlandfairfund.com/.  You may send your Claim Form to the Distribution Agent; Claim Forms must be postmarked no later than June 6, 2022 if sent by First Class Mail; and if not by First Class Mail, received by the Distribution Agent by June 6, 2022. Claim Forms should be directed to the following address:

Jeffrey Friedland Fair Fund
c/o JND Legal Administration
PO Box 91436
Seattle, WA 98111

Brokers, Dealers and other nominees that may have records of purchasers of the Eligible Security during the Relevant Period must notify the respective beneficial owners within fourteen (14) days of receipt of the Notice Packet so that beneficial owners may timely file a claim or provide to the Distribution Agent within fourteen (14) days of receipt a list of last known names and addresses for all beneficial owners for whom the record holders purchased the Eligible Security during the Relevant Period.

Additional information regarding the Jeffrey Friedland Fair Fund, including the Distribution Plan, the Distribution Plan Notice, the Claim Form, relevant deadlines, and related materials are available on the Distribution Website at www.jeffreyfriedlandfairfund.com/. You may obtain additional information or request copies of the Claim Form by contacting the Distribution Agent toll-free at (877) 379-5985 or by emailing [email protected] or writing to:

Jeffrey Friedland Fair Fund
c/o JND Legal Administration
PO Box 91436
Seattle, WA 98111

For questions, visit www.jeffreyfriedlandfairfund.com/, call toll-free 1 (877) 379-5985 or email [email protected].

Please check the website www.jeffreyfriedlandfairfund.com/ frequently for updates.

SOURCE JND Legal Administration