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|1.||What is this case about?|
On April 19, 2016, the Securities and Exchange Commission (the “Commission”) 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 (collectively, the “Respondents”). In the Order, the Commission 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 Commission further found Doktorczyk and Bolles, both former officers of Logitech, responsible for the improper accounting for warranty liabilities that occurred during their employment. The Commission ordered Logitech, Doktorczyk, and Bolles to pay civil money penalties of $7,500,000.00, $50,000.00, and $25,000.00, respectively. The Respondents have since paid in full and the Commission holds more than $7.575 million, comprised of the civil money penalties paid by the Respondents and accrued interest.
On February 27, 2018, the Commission 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 Commission.
By Order dated October 26, 2018, the Commission approved a plan of distribution to distribute the funds collected from the Respondents to investors who were harmed by the conduct described in the Order (the “Plan”) and, in particular, investors who purchased shares of Logitech common stock on the Nasdaq Global Select Market at inflated prices during the period of May 28, 2011 through July 27, 2011, inclusive.
|2.||Why did I receive a Notice?|
You received a Notice because records indicate you may have purchased Logitech common stock between May 28, 2011 through July 27, 2011, inclusive (the “Recovery Period”). The notice you received is designed to notify you of the Plan and its administration and to inform you that you may be eligible to receive payment from the Logitech Fair Fund.
|3.||Who is eligible to participate in the Fair Fund?|
You must satisfy certain eligibility criteria described in detail in the Plan. The general criteria include, but are not limited to:
|4.||Who is excluded from participating in the Fair Fund?|
You are excluded from participation in the Logitech Fair Fund if you are an Excluded Party as defined in the Plan, including:
|5.||What is the amount of the Fair Fund?|
The Logitech Fair Fund currently holds $7.575 million plus accrued interests. If ordered by the district court, the Logitech Fair Fund may receive an additional, approximately, $200,000 collected in a related civil action against two former officers, Erik Bardman and Jennifer Wolf.
|6.||What do I need to participate in the Fair Fund?|
To participate in the Fair Fund, you must have timely sent in a valid Proof of Claim with supporting documents by March 11, 2019.
|7.||What did I need to submit with my Proof of Claim Form?|
You must have documented each transaction that you included on your Proof of Claim Form. Acceptable forms of supporting documentation include, but are not limited to:
|8.||What was the deadline for submitting my Proof of Claim Form?|
The deadline to submit a completed and signed Proof of Claim Form with the necessary documentation was March 11, 2019.
|9.||How much money will I receive if my claim is approved?|
|10.||Who is the Fund Administrator?|
The Garden City Group, LLC was appointed as the Fund Administrator. As of June 1, 2018, The Garden City Group has been operating as Epiq Class Action and Claim Solutions, Inc.
|11.||Where can I obtain the Plan and Notice?|
You can obtain the Plan and Notice by either downloading these documents from this website by clicking on the tabs to the left, or the documents can be requested by mail to:
Logitech Fair Fund c/o EPIQ P.O. Box 10568 Dublin, OH 43017-7268
|12.||How do I get more information?|
|13.||When did the Initial Distribution take place?|
The Initial Distribution took place on Monday, December 14th, 2020.