SEC Announces $13.9 Million Fair Fund Distribution to Harmed Investors in Raytheon Financial Fraud Settlement Today
FOR IMMEDIATE RELEASE
Washington, D.C., June 25, 2010 — The Securities and Exchange Commission announced the distribution today of approximately $13.9 million to nearly 57,000 investors in connection with Raytheon Corporation financial fraud settlements.
The Fair Fund was created after Raytheon agreed to pay approximately $12 million in penalties and disgorgement to settle SEC charges in 2006 that it defrauded investors by making false and misleading disclosures and using improper accounting practices. The proceeds from settlements with former Raytheon officers Daniel P. Burnham, Franklyn A. Caine, James E. Gray, Edward S. Pliner, and Aldo R. Servello, added additional funds to the Fair Fund.
The Distribution Agent responsible for the Raytheon distribution is Epiq Systems. Investor questions regarding the distribution may be directed to Epiq Systems at 1 (866) 329-0166. Information regarding the distribution also can be obtained at http://www.raytheoncompanydistributionfund.com.
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For further information contact:
Christopher R. Conte
Associate Director, SEC Division of Enforcement
Timothy N. England
Assistant Director, SEC Division of Enforcement