SEC v. CR Intrinsic Investors, LLC
Welcome to the CR Intrinsic Fair Fund Website
On November 20, 2012, the SEC brought suit against CR Intrinsic Investors, LLC (“CR Intrinsic”) and Matthew Martoma and Dr. Sidney Gilman. On March 15, 2013, the Commission filed its Amended Complaint (“Complaint”) in this action to include Relief Defendants CR Intrinsic Investments, LLC, S.A.C. Capital Advisors, LLC, S.A.C. Capital Associates, LLC, S.A.C. International Equities, LLC and S.A.C. Select Fund, LLC and alleged that the Relief Defendants and CR Intrinsic (collectively, the “Defendants”) made approximately $275 million in illegal profits or avoided losses in July 2008 by trading ahead of a negative public announcement involving the clinical trial results for an Alzheimer’s drug being jointly developed by Elan and Wyeth. The Defendants entered consent agreements and on June 18, 2014, the Court entered Final Judgments ordering the Defendants to collectively pay disgorgement, prejudgment interest, and civil penalties in the amount totaling $601,747,463.22 to resolve the Commission’s claims. On or about August 7, 2014, $601,832,697.04 was paid to the Clerk of the Court and deposited into an interest-bearing account with the Court Registry Investment System (“CRIS”) account on August 6, 2014. On January 26, 2015, a Fair Fund comprised of the disgorgement, prejudgment interest and civil penalties paid collectively by the Defendants was established by the Court to compensate investor victims of the fraud and a Tax Administrator, Damasco & Associates LLP, was appointed to handle the tax obligations of the Fund. On April 22, 2015, the Court entered an Order appointing Garden City Group, LLC as the Distribution Agent to assist in developing a Distribution Plan to distribute monies in the CR Intrinsic Fair Fund to investors harmed by the violations alleged in the Complaint.
The SEC submitted the Distribution Plan to the Court for its approval on November 23, 2015 and submitted an Amended Distribution Plan to the Court on December 10, 2015. The Court approved the Amended Plan of Distribution (“Distribution Plan”) in its entirety on February 4, 2016.
If you have any questions, you may call 1-888-599-2123 in the United States, or send an email to Questions@CRIntrinsicFairFund.com
You can also visit the Securities and Exchange Commission's website by clicking here.
July 16, 2016
Claim Form Deadline