SEC v Symbol Technologies, Inc.

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SEC v Symbol Technologies, Inc.
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**Distribution Update**

On February 6, 2019 additional funds were distributed to eligible claimants in the action entitled SEC v. Symbol Technologies, Civ. Act. No. 04-2276 (SJF) (SIL) (E.D.N.Y.).  Please see information below regarding eligibility for this Settlement Distribution.

 

 

The SEC has recently collected additional funds in SEC v. Symbol Technologies, Civ. Act. No. 04-2276 (SJF) (SIL) (E.D.N.Y.) (the “SEC Action”) which have been deposited into the Fair Fund established by the Court in that action. Payments have been calculated pursuant to the distribution plan approved by the Court in the SEC action on August 3, 2018 (the “Plan”). Eligible claimants are receiving a payment because they submitted an eligible claim in In re Symbol Technologies, Inc. Sec. Litig., 02-CV-1383 (LOW) (E.D.N.Y.), in which funds collected in both that action and the SEC Action were distributed to eligible claimants from a Joint Compensation Fund, they received and cashed the previous payment sent to them in 2008, and they are eligible for a distribution under the Plan.

 

The Plan, as well as some additional court filings relating to this distribution are available for review on the Court Documents page of this website. The total value of the Fair Fund, less taxes, fees, and expenses, available for distribution is approximately US $12.2 million, meaning each entity deemed eligible under the Plan will receive approximately an additional 0.01% of his, her or its Recognized Loss.

 

 
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