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U.S. Securities and Exchange Commission

Michael J. McCloskey, et al. (Dean Foods)

 

On August 2, 2004, the SEC filed a settled civil action against Michael J. McCloskey, Rance C. Miles, Luis E. Vallejo and Daniel Harris alleging that they had engaged in insider trading in the securities of Dean Foods Company in advance of the April 5, 2001 announcement that Suiza Foods Corporation would merge with Dean Foods. The SEC alleged that, after receiving material and nonpublic information, the four defendants traded in Dean Foods securities and realized substantial illegal profits. In settling the charges brought by the SEC, the four defendants paid a total of $306,062.71 in disgorgement, prejudgment interest and penalties. For more information about the SECís action, you can read Litigation Release No. 18819 (Aug. 2, 2004).

On February 11, 2008, the Court issued an Order appointing Michael Grassmueck as the Distribution Agent and approving a Distribution Plan for funds collected in this case. You can find the latest information on the Distribution Agentís website.

The Distribution Agent has mailed Proof of Claims Forms to known potential claimants. The bar date for submitting the forms is February 5, 2009. Accordingly, the Distribution Agent must receive all claims by 5pm on that date or claimants may be forever barred from making a claim.

http://www.sec.gov/divisions/enforce/claims/deanfoods.htm


Modified: 12/16/2008