LAKE SUCCESS, N.Y.,
July 5, 2016 /PRNewswire/ -- The
following statement is being issued by Garden City Group, LLC
regarding the claim deadline for CR Intrinsic Fair Fund to Elan
Corporation PLC and Wyeth Investors.
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UNITED STATES DISTRICT COURT
FOR THE SOUTHERN
DISTRICT OF NEW
YORK
Securities and Exchange Commission
v.
CR Intrinsic Investors, LLC, et al.
Civil
Action No. 12-cv-8466 (VM)
If you purchased or acquired (or sold in the case of put
options) Wyeth common stock, Wyeth put and call options,
Elan American Depository Shares (ADS), Elan ADS put and call
options, and Elan ordinary shares (the "Eligible Securities") from
July 21, 2008 through the close of
trading at 4:00 p.m. EDT on
July 29, 2008, inclusive (the
"Recovery Period"), you may be eligible for compensation.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
YOU MAY BE ELIGIBLE FOR RECOVERY FROM THE CR INTRINSIC FAIR
FUND.
THIS NOTICE CONTAINS IMPORTANT INFORMATION REGARDING YOUR
RIGHTS.
What this Case is About
On November 20, 2012, the United
States Securities & Exchange Commission brought suit against CR
Intrinsic Investors, LLC ("CR Intrinsic"), for illegal profits and
losses avoided by trading ahead of a negative public announcement
involving the clinical trial results for an Alzheimer's drug being
jointly developed by Elan and Wyeth while in possession of material
non-public information about the clinical trial results. On
March 15, 2013, the Commission filed
its Amended Complaint ("Complaint") in this action to include
relief defendants CR Intrinsic Investments, LLC, S.A.C. Capital
Advisors, LLC, S.A.C. Capital Associates, LLC, S.A.C. International
Equities, LLC and S.A.C. Select Fund, LLC (collectively with CR
Intrinsic, the "Defendants"). The Defendants entered consent
agreements and on June 18, 2014, the
Court entered Final Judgments ordering, on a joint and several
basis, the Defendants to pay disgorgement, prejudgment
interest, and civil penalties in the amount totaling $601,747,463.22 to resolve the Commission's
claims. On or about August 7,
2014, $601,832,697.04 was paid
to the Clerk of the Court and deposited into an interest-bearing
account with the Court Registry Investment System ("CRIS") account
on August 6, 2014.
On January 26, 2015, a Fair Fund
comprised of the disgorgement, prejudgment interest and civil
penalties paid collectively by the Defendants was established by
the Court to compensate investor victims of the fraud and a Tax
Administrator, Damasco & Associates LLP, was appointed to
handle the tax obligations of the Fund. On April 22, 2015, the Court entered an Order
appointing Garden City Group, LLC as the Distribution Agent to
assist in developing a Distribution Plan to distribute monies in
the CR Intrinsic Fair Fund to investors harmed by the violations
alleged in the Complaint.
The SEC submitted a Distribution Plan to the Court for its
approval on November 23, 2015 and
submitted an Amended Distribution Plan to the Court on December 10, 2015. The Court approved the
Amended Plan of Distribution ("Distribution Plan") in its entirety
on February 4, 2016.
Who is Eligible for Compensation
If you purchased or acquired (or sold in the case of put
options) Eligible Securities from July 21,
2008 through the close of trading at 4:00 p.m. EDT on July 29,
2008, inclusive, you may be eligible for compensation.
How to Obtain Compensation
You can file a Proof of Claim Form by mailing the completed form
to:
SEC v. CR Intrinsic Investors, LLC
c/o GCG
P.O. Box 10185
Dublin, OH 43017-3185
You must complete and sign the Proof of Claim Form and submit it
to the Distribution Agent so that it is postmarked (or if not sent
by U.S. Mail, received) no later than July
16, 2016.
If you have any questions, or if you would like to receive a
Proof of Claim Form in the mail, you may call (888) 599-2123 in
the United States, send an email
to questions@CRIntrinsicFairFund.com, or visit
www.CRIntrinsicFairFund.com.
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SOURCE Garden City Group, LLC