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

Heartland Group, Inc.

On March 22, 2001, the SEC obtained a permanent injunction against Heartland Group, Inc. and froze the assets held in three of Heartland's mutual funds. The SEC alleged that Heartland failed to send an annual report to shareholders because of its inability to obtain audited financial results for the funds. The Court also appointed Phillip L. Stern as Receiver to take control of and manage the funds' assets, suspend redemptions and, if appropriate, liquidate the funds. For more information about the SEC's action, you can read Litigation Release No. 16938 (Mar. 22, 2001).

The Receiver has so far returned more than $22.7 million to investors.  You can find details about the distributions as well as information on the Receivership on Heartland's website.


Modified: 08/31/2004