SEC v. Bruce D. Strebinger, et al.
Case No. 14-cv-03533-TCB (N.D. Ga.)
On November 3, 2014, the Commission filed a complaint against Bruce D. Strebinger (“Strebinger”) and Brent Howard Chapman (“Chapman”) (collectively, “Defendants”), and Anne Strebinger, Furla Blue SpA, Lance Investments S.A., and Muskateer Investments, Inc. (collectively, the “Relief Defendants”). The complaint alleged that, from 2009 to 2010, the Defendants violated federal securities laws by acquiring positions of more than 5% of Americas Energy common stock with publically disclosing their beneficial ownership status. See Complaint.
The Defendants were ordered to pay a total of $4,315,640.00 in disgorgement. The Commission was ordered to hold all funds (collectively, the “Fund”), pending further order of the Court. See Strebinger’s Final Judgment and Chapman’s Final Judgment. The Relief Defendants were dismissed.
The Defendants have paid a total of $4,315,640.00 into the Fund for distribution to harmed investors.
On February 8, 2018, the Court entered an order that appointed Miller Kaplan Arase LLP as the Tax Administrator to fulfill the tax obligations of the Fund.
On February 26, 2018, the Court entered an order that appointed Epiq Class Action & Claims Solutions, Inc. as the Distribution Agent to oversee the administration and distribution of the Fund. See the Court’s Order.
The Plan provides for the distribution of the Distribution Fund to those investors who purchased or acquired shares of Americas Energy Company – AECo, formerly Trend Technology Corporation common stock on September 9, 2009 through the close of trading on September 2, 2010, and suffered a loss according to the Plan.
On May 28, 2019, the Court approved the Plan. See the Court’s Order.
Claim forms can be found at: www.SECvStrebingerDistributionFund.com and must be postmarked by October 8, 2019.
On September 9, 2020, the Court entered an order authorizing the Distribution Agent to distribute $4,213,159.70 of the Fund to Eligible Investors, net any reserve for taxes, fees, and expenses in accordance with the Plan. See the Court’s Order.
For more information, please contact the Distribution Agent: