Purchasers of Converium Common Stock and ADSs May be Entitled to Payment from an SEC Fair Fund
By The Garden City Group Inc., PRNESunday, April 11, 2010
LAKE OSWEGO, Oregon, April 12, 2010 - The following statement is being issued by The Garden City Group, Inc.
regarding the SEC v. Zurich Financial Services case.
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Securities and Exchange Commission v. Zurich Financial Services Case No. 08 Civ. 10760 (WHP)
SUMMARY NOTICE OF DISTRIBUTION OF FAIR FUND
IF YOU PURCHASED COMMON STOCK OR ADSs OF CONVERIUM HOLDING AG, NOW KNOWN
AS SCOR HOLDING (SWITZERLAND) LTD. ("CONVERIUM"), BETWEEN DECEMBER 11, 2001
AND NOVEMBER 4, 2005, YOU MAY BE ELIGIBLE FOR COMPENSATION
The Securities and Exchange Commission ("SEC") alleged in a complaint
that Zurich Financial Services ("Zurich") aided and abetted violations by
Converium by inflating improperly its financial performance. Pursuant to the
Court's final judgment against Zurich, to which Zurich consented without
admitting or denying the allegations in the SEC's Complaint, Zurich paid a
total of US$25,000,001 to the Court. Those funds, plus interest, comprise the
Fair Fund (the "Fund") and will be distributed to eligible claimants.
WHO IS ELIGIBLE FOR COMPENSATION?
You may be eligible for compensation if you (a) purchased common stock
(ordinary shares) or American Depositary Shares ("ADSs") of Converium from
December 11, 2001 until, for purchasers of Converium common stock, the open
of the Swiss markets on November 4, 2005 and, for purchasers of Converium
ADSs, the open of the U.S.A. markets on November 4, 2005 and (b) held
Converium common stock as of the open of the Swiss markets on November 4,
2005 and/or held Converium ADSs as of the open of the U.S.A. markets on
November 4, 2005.
Certain persons, including certain persons affiliated with Zurich and
Converium, are excluded from participation. If you are not sure whether you
are eligible to share in the Fund, you can get more information, including a
detailed notice of the terms of the distribution, at
www.ZurichSECsettlement.com and/or www.sec.gov.
HOW TO OBTAIN COMPENSATION
If you believe you are eligible, in order to share in the Fund you must
submit a completed Proof of Claim so that it is received by the Claims
Administrator no later than October 6, 2010. To obtain the detailed notice
and claim form, visit www.ZurichSECsettlement.com or
www.sec.gov, or call the telephone numbers listed below.
You may file a claim online at the Fair Fund website,
www.ZurichSECsettlement.com, or mail a claim form to the following
address: SEC v. Zurich Financial Services Fair Fund, c/o The Garden City
Group, Inc., P.O. Box 9547, Dublin, OH 43017-4847.
You will not be charged for participating in the distribution of the
Fund.
If you submit a timely, eligible claim, your recovery, if any, will
depend on the number and dollar amount of valid claims submitted, how many
shares of Converium common stock or ADSs you purchased, and when you bought,
sold or held them. The entire Fund will be distributed pursuant to the orders
of the Court.
CLAIM FILING DEADLINE
All Proofs of Claim must be received by the Claims Administrator no later
than October 6, 2010.
ADDITIONAL INFORMATION
Additional information, including copies of the Notice and Proof of Claim
form, may be found at the Fund website, www.ZurichSECsettlement.com.
You can also obtain additional information or request copies of forms by
contacting the Claims Administrator by email at
Questions@ZurichSECsettlement.com, or by calling the following toll-free
numbers: For Germany, Luxembourg, the Netherlands, Switzerland and the
UK: 00-800-776-86269; for Canada: 1-866-621-7018; for the US and its
Territories: 1-866-621-7018. Or you can call the following number, which is
not toll-free: +1-941-906-4758.
Jeanne Finegan, The Garden City Group, Inc., +1-503-906-5301
Tags: April 12, Lake Oswego, Oregon, The Garden City Group Inc., Western Europe