Helpful Hint: Using the general subject of your question may provide the best search results. For example, enter the word "eligible" in the search box to find information about eligibility requirements.
|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 timely send in a valid Proof of Claim with supporting documents (DO NOT SEND ORIGINALS of your supporting documents). The Proof of Claim, with supporting documentation, must be postmarked or submitted on or before March 11, 2019.
|7.||What do I need to submit with my Proof of Claim Form?|
You must document each transaction that you include on your Proof of Claim Form. Acceptable forms of supporting documentation include, but are not limited to:
|8.||The Proof of Claim requests an account number, where can I obtain this information?|
Most brokerage firms and financial institutions assign account numbers to your account for easier reference. This number is typically included on the statements you receive. Please include your account number on page 2 of the Proof of Claim Form.
|9.||What is 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 is March 11, 2019. The Proof of Claim must be postmarked by this date.
|10.||Will I be notified if my Proof of Claim Form is deficient?|
Yes. If your Proof of Claim Form is deficient, you will receive a Deficiency Notice setting forth the reason why the claim is deficient and advising you of the opportunity to cure such deficiency.
|11.||How much money will I receive if my claim is approved?|
Until all claims have been fully processed, it is not possible to determine the amount of any individual payment because the amount will depend on a variety of factors, including the number of valid claims processed and the details of your specific investment(s). In order for a claim to be paid, the Distribution Payment must equal or exceed $10.00.
|12.||Who is the Fund Administrator?|
On March 30, 2018, the Commission has appointed Garden City Group, LLC “GCG” as the Fund Administrator. On June 15, 2018 GCG was acquired by Epiq Class Action and Claims Solution, Inc. (“Epiq”) and is now continuing as part of Epiq.
|13.||Where can I obtain the Plan, Notices and a Proof of Claim Form?|
You can obtain the Plan, Notices and Proof of Claim Form by either downloading these documents from this website by clicking on the tabs to the left, calling (877)919-5896, or requesting the documents by mail sent to:
Logitech Fair Fund c/o EPIQ P.O. Box 10568 Dublin, OH 43017-7268
|14.||How do I get more information?|