Distribution Plan Notice in SEC v. Advanced Technologies Group, Ltd., et al., 10 Civ. 4868 (RJS) (S.D.N.Y.)
On September 22, 2011, the Court approved the plan of distribution proposed by the SEC in the action against Advanced Technologies Group, Ltd. (“ATG”), Alexander Stelmak and Abelis Raskas. The plan, in substance, seeks to achieve prompt, fair and efficient distribution of the amounts paid by defendants ATG and Stelmak under the consent judgment entered on January 13, 2011, to investors who suffered losses as a result of their purchases of securities in the unregistered offerings made by Luxury Lounge, Inc., Oxford Global Network, Ltd. and ATG, between 1997 and 2006. If you hold or held the securities of one of these three companies, you may be entitled to participate in the distribution.
For more information about the SEC’s action, please read the Litigation Release No. 21567 (June 23, 2010).
For further information, investors can read the distribution plan and visit the website of the Court-appointed fund administrator.
On May 14, 2012, the SEC filed a Motion to Approve Supplemental Distribution, proposing a Supplemental Distribution under the methodology described in the Plan of Distribution. On June 13, 2012, the SEC filed a Motion that, among other things, requested authority to amend the Supplemental Distribution proposal. On June 13, 2012, the Court issued an Order that, among other things, directed anyone who wishes to object to the amended Supplemental Distribution to do so no later than July 17, 2012. On July 25, 2012, the Court approved the Amended Supplemental Distribution proposal.