U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

Robert L. Shull, et al.

On August 31, 1994, the SEC filed a civil enforcement action against Robert L. Shull and several other defendants. The SEC alleged that after purchasing a controlling interest in Fairmont Resources, Inc., the defendants manipulated the price of Fairmont's stock and sold their holdings at artificially higher prices. In connection with the scheme, the defendants paid kickbacks to brokers who induced their customers to buy Fairmont stock. For more information about the SEC's action, you can read on the SEC website the litigation releases cited in Litigation Release No. 15770 (June 5, 1998).

The Court appointed Curtis C. Pfunder as Receiver. He has sent information, including proof of claim forms, to potential eligible claimants. The deadline by which the Receiver must receive claim forms is December 31, 2001.

In December 2002, the Receiver distributed approximately $300,000 to eligible claimants, or about 35% on their loss. All eligible claimants have received and cashed their checks. If you have questions, you can contact the Receiver by phone at (617) 248-0200.


Modified: 03/05/2003