UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 16643 / August 3, 2000
SEC v. Cosmas Anastassiou et al., 98 Civ. 5680 (D.C.), (S.D.N.Y.)
DEADLINE FOR FILING PROOF OF CLAIM FORM BY CERTAIN PERSONS AND ENTITIES WHO SOLD SECURITIES OF VIVRA, INC. IS EXTENDED TO SEPTEMBER 15, 2000.
In 1998, the Securities and Exchange Commission filed a civil action in United States District Court for the Southern District of New York alleging that the defendants engaged in illegal insider trading in securities and options for the securities of Vivra, Inc. Without admitting or denying the allegations, the defendants consented to the entry of Final Judgments which enjoined them from future violations of certain Federal securities laws and which ordered them to disgorge their alleged illegal trading profits. These profits, which totaled approximately $370,000 are now in a Fund under the control of a Court-appointed Receiver who is responsible for distributing them on a pro rata basis to qualified claimants. (See Litigation Release No. 15840, August 11, 1998).
You may be eligible to receive a pro rata distribution from the Fund: (1) If you sold Vivra common stock on April 30, 1997, May 1, or May 2, 1997, and
(2) You timely file with the Receiver a Proof of Claim form and include all required information and documentation. In determining the actual amount you may receive, the Receiver will take into account both your purchases and your sales of the subject securities on the eligible trade dates in order to assure that you were a "net seller". The amount available to pay claims will be the amount of money in the Fund minus administration expenses and taxes incurred by the Fund. As specified in the Plan, the available distribution will be allocated on a percentage basis among qualified claimants and will be allocated pro rata to the extent claims exceed the available distribution.
Proof of Claim forms have been forwarded to potential claimants at their last known addresses. If you are a potential claimant and have not filed a claim or have not received a claim form, please note that the deadline for filling a Proof of Claim form has been extended to September 15, 2000. You may obtain a Proof of Claim form by contacting the Receiver's agent at the address shown below. In order to qualify as a claimant, you must file a completed Proof of Claim form postmarked no later than September 15, 2000 at the address shown below. If you have previously filed a Proof of Claim form, please disregard this notice. Please follow the instructions in the Proof of Claim form very carefully, and be sure to provide documentation in support of your claim as described in the Instructions. Inquiries and communications should be directed to:
David A. Lerner, Esq.
Professor Peter J. Henning, Esq.
Agent for Receiver for Disgorgement fund in
Receiver, (313) 577-3906
SEC v. Anastassiou et al.
Plunkett & Cooney, P.C.
38505 Woodward Avenue, Suite 3000
Bloomfield Hills, MI 48304