U.S. Securities & Exchange Commission Announces Skowron Fair Fund

NEW YORK, June 27, 2013 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SEC v Joseph F. "Chip" Skowron III, et al., Civil Action No. 10-CV-8266 (DAB)

SUMMARY NOTICE OF SKOWRON FAIR FUND

Attention all persons or entities who purchased Human Genome Sciences, Inc. ("HGSI") common stock between December 7, 2007 and January 23, 2008, inclusive (the "Relevant Period").

If you purchased Human Genome Sciences, Inc. ("HGSI") common stock on Eligible Purchase Dates between December 7, 2007 and January 23, 2008, inclusive ("Relevant Period") and suffered a Recognized Loss per the Plan of Allocation, you may be entitled to receive a monetary payment from the Skowron Fair Fund Distribution.

On May 13, 2013, the Honorable Debra A. Batts, United States District Court Judge for the United States District Court for the Southern District of New York issued an Order approving the Distribution Plan ("Plan") in the matter of SEC v. Dr. Joseph F. ("Chip") Skowron III ("Skowron"); and Dr. Yves M. Benhamou ("Benhamou"), Defendants, and six healthcare-related hedge funds affiliated with FrontPoint Partner LLC ("Relief Defendants"). The Distribution Plan provides that the disgorged profits and prejudgment interest paid to the Clerk of the Court and placed into an interest-bearing account with the Court Registry Investment System ("CRIS"), approximately $35 million ("Skowron Fair Fund"), shall be distributed for the benefit of injured investors who purchased the common stock of HGSI and suffered a Recognized Loss as defined by the Plan and pursuant to the Plan of Allocation.

The Court has appointed Gilardi & Co. LLC as the Distribution Agent to distribute to HGSI investors who qualify under the Court-approved Distribution Plan and Plan of Allocation.

WHO IS ELIGIBLE FOR COMPENSATION?

If you purchased HGSI common stock ("Eligible Securities") between December 7, 2007 and January 23, 2008, inclusive ("Relevant Period") on the Eligible Purchase Dates and suffered a Recognized Loss per the Plan of Allocation of at least $10.00, you may be entitled to receive payment from the Skowron Fair Fund.  The Eligible Purchase Dates are December 7, 2007, December 10, 2007, December 11, 2007, December 12, 2007, December 13, 2007, December 14, 2007, December 17, 2007, December 18, 2007, January 2, 2008, January 18, 2008 and January 22, 2008.

Whether you will have a Recognized Loss for which you will be compensated depends on a number of factors, which are detailed in the Plan of Allocation section of the Distribution Plan. You should read the Plan of Allocation in the Distribution Plan in its entirety before filing a claim. A final determination of whether you will receive a Distribution Payment, and the amount, is made by the Court-appointed Distribution Agent.

HOW TO OBTAIN COMPENSATION

If you believe you are a Potentially Eligible Claimant and would like to participate, you must complete the Proof of Claim Form completely, sign it, include copies of all required supporting documentation, and return it to Skowron Fair Fund, c/o Gilardi & Co. LLC, Distribution Agent, P.O. Box 5100, Larkspur CA 94977-5100.

A Proof of Claim can be obtained by visiting the website, www.gilardi.com/SkowronFairFund, clicking the Relevant Documents tab and choosing the "Proof of Claim Form".  You can also request that a Notice and Proof of Claim Form packet be sent to you via mail by calling (877) 492-2772.

TO PARTICIPATE, YOUR COMPLETED AND SIGNED PROOF OF CLAIM FORM, WITH ALL OF THE REQUIRED SUPPORTING DOCUMENTATION, MUST BE POSTMARKED NO LATER THAN SEPTEMBER 24, 2013 (THE "FILING DEADLINE"), AND SENT TO THE DISTRIBUTION AGENT.

ADDITIONAL INFORMATION

This notice provides only summary information regarding the action.  We strongly recommend that you read the Distribution Plan, including the Plan of Allocation, and other relevant case documents in their entirety for more complete details. 

For more information on the Fair Fund, to review relevant case documents, including the Distribution Plan, or for assistance in completing a Proof of Claim Form, visit the Fair Fund website at www.gilardi.com/SkowronFairFund or www.sec.gov/division/enforce/claims/skowron.htm, call the dedicated toll-free number at (877) 492-2772 or send an email inquiry to [email protected].

SOURCE U.S. Securities & Exchange Commission