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SEC v ONE OR MORE UNKNOWN PURCHASERS OF CALL OPTIONS and COMMON STOCK OF USCS INTERNATIONAL, INC Click to find out why . . .



Keywords & Phrases
CaseNo: LR-16612, CourtCode: DIS, CourtName: IN UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, Defendant: One or More Unknown Purchasers of Call Options and Common Stock of USCS International, Inc.,, Plaintiff: SEC, State: NY New York, UniqueCaseRef: SEC>LR-16612, Securities, Claimant, Claim Form, Receiver, Distribution, Amount, Uscs, Sold, Trading, Eligible Security, Purchase, Fund, Potential Claimants, Price, Exchange Commission, Common Stock, Pro Rata, Qualified Claimants, Identities, Profits, Basis, Trade, Documentation, Sales, Net Seller, Taxes, Plan, Review, Trading Records , ContentID: 120241501

Case Documents
1 2000-06-28 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 104594
2 pages
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Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
CLAIMANT
CLAIM FORM
RECEIVER
DISTRIBUTION
AMOUNT
USCS
SOLD
TRADING
ELIGIBLE SECURITY
PURCHASE
FUND
POTENTIAL CLAIMANTS
PRICE
EXCHANGE COMMISSION
COMMON STOCK
PRO RATA
QUALIFIED CLAIMANTS
DEFENDANTS
IDENTITIES
PROFITS
BASIS
TRADE
DOCUMENTATION
SALES
NET SELLER
TAXES
PLAN
REVIEW
TRADING RECORDS
   UNITED STATES SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16612 / June 28, 2000

   SEC v. One or More Unknown Purchasers of Call Options and Common Stock
   of USCS International, Inc., 98 Civ 6327, S.D.N.Y.

   DEADLINE FOR FILING PROOF OF CLAIM FORM BY PERSONS AND ENTITIES WHO
   SOLD SECURITIES AND/OR CALL OPTIONS FOR THE SECURITIES OF USCS
   INTERNATIONAL, INC. ON SEPTEMBER 2, 1998 IS EXTENDED TO JULY 31, 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, whose identities were unknown at the
   time, had engaged in illegal insider trading in securities and options
   for the securities of USCS International, Inc. Without admitting or
   denying the allegations, the defendants identified themselves and
   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 $364,000 plus interest ("Fund") are now
   under the control of a Court-appointed Receiver who is responsible for
   distributing them on a pro rata basis to qualified claimants. (See
   Litigation Releases Nos. 15875 and 16044).

   You may be eligible to receive a pro rata distribution from the Fund
   (1) If you sold USCS common stock and/or USCS Oct30 call options on
       trade date September 2, 1998 and;
       (2) You timely file with the Receiver a Proof of Claim form, and
       include all required information and all required 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 trade date September 2, 1998 in order to assure that you
   were a "net seller" on that date. 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. The Plan provides in part
   that

   The Receiver or his designee shall, with the assistance of the SEC,
   review options and stock trading records to identify potential
   claimants and shall mail to them a claim form and notice describing
   the SEC's action and the amounts of their sales as reflected in the
   trading records. The Receiver shall review each claim form and
   determine the amount (if any) to be paid as follows If a claimant sold
SNIPPETS:
  • DEADLINE FOR FILING PROOF OF CLAIM FORM BY PERSONS AND ENTITIES WHO SOLD SECURITIES AND/OR
  • In 1998, the Securities and Exchange Commission filed a civil action in United States
  • Without admitting or denying the allegations, the defendants identified themselves and
  • These profits, which totaled approximately $364,000 plus interest are now under the control
  • You may be eligible to receive a pro rata distribution from the Fund If you sold USCS common
  • In determining the actual amount you may receive, the Receiver will take into account both
  • The amount available to pay claims will be the amount of money in the Fund minus
  • As specified in the Plan, the available distribution will be allocated on a percentage basis
  • The Receiver or his designee shall, with the assistance of the SEC, review options and stock
  • The Receiver shall review each claim form and determine the amount to be paid as follows If a
  • For purposes of calculating the amount of a claim, the claimant's purchase price shall not
  • Please follow the instructions in the Proof of Claim form very carefully, and be sure to
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