If you purchased the securities of Homeland Safety International, Inc., f/k/a Sniffex, Inc., between May 2005 and April 2006, you may be eligible for distribution from the Homeland Safety International Fair Fund

Rhea-AI Summary

On March 30, 2022, the SEC announced that investors who purchased Homeland Safety International (HSFI) securities from May 17, 2005, to April 6, 2006, may be eligible for the Homeland Safety International Fair Fund distribution. This fund, established by the court in January 2020, totals $1.6 million, aimed at compensating those harmed by a fraudulent promotional scheme. Interested investors must submit Claim Forms by June 16, 2022, to qualify for restitution. More details can be found at HomelandSafetyFairFund.com.

Positive

• Establishment of a $1.6 million Fair Fund for affected investors.
• Inclusion of interested investors in the distribution process.

Negative

• Fraudulent activities between October 2004 and April 2006 led to significant investor losses.
• Legal issues surrounding the company's past may impact investor confidence.

SEATTLE, March 30, 2022 /PRNewswire/ -- On July 15, 2008, the Securities and Exchange Commission ("SEC" or "Commission") filed a complaint against Homeland Safety International, Inc. f/k/a Sniffex, Inc. ("Homeland Safety" or "Sniffex") and six other defendants (collectively, the "Defendants").  The SEC alleged that from approximately October 2004 through April 2006, Defendants engaged in a fraudulent promotional campaign to inflate the price and trading volume of Homeland Safety's, then known as Sniffex, stock.  On January 10, 2020, the United States District Court for the Northern District of Texas, Dallas Division (the "Court") established a Fair Fund pursuant to Section 308(a) of SOX, so that the $1.6 million paid along with accrued interest and earnings thereon (the "Fair Fund") can be distributed to investors who were harmed by the Defendants' fraudulent conduct.

Company (Trading Symbols) [Relevant Period start and end dates (inclusive)]:

• Homeland Safety International, Inc. (HSFI, SNFX) [5/17/2005 through 4/6/2006]

On January 10, 2020, the Court appointed Miller Kaplan Arase LLP as Tax Administrator and, on January 14, 2020, appointed JND Legal Administration as Distribution Agent (the "Distribution Agent").  On February 16, 2022, the Court approved a plan for the distribution of the Homeland Safety International Fair Fund (the "Plan").  The Plan is publicly available at www.HomelandSafetyFairFund.com, as well as on the SEC's webpage for this matter https://www.sec.gov/divisions/enforce/claims/homeland-safety-international.htm.

If you purchased the security set forth above during the Relevant Period and would like to be considered for eligibility for a distribution from the Homeland Safety International Fair Fund, you must submit a completed and signed Claim Form, including adequate supporting documentation of your purchases and a completed tax certification, to the Distribution Agent by the Filing Deadline. 

The Claim Form is available at www.HomelandSafetyFairFund.com.  You may send your Claim Form to the Distribution agent; Claim Forms must be postmarked no later than June 16, 2022 if sent by First Class Mail; and if not by First Class Mail, received by the Distribution Agent by June 16, 2022. 

Homeland Safety International Fair Fund
c/o JND Legal Administration
PO Box 91240
Seattle, WA 98111

Brokers, Dealers and other nominees that may have records of purchasers of the Securities during the Relevant Period must notify the respective beneficial owners within fourteen (14) days of receipt of the Claims Packet so that beneficial owners may timely file a claim or provide to the Distribution Agent within fourteen (14) days of receipt a list of last known names and addresses for all beneficial owners for whom the record holders purchased the Securities during the Relevant Period.

Additional information regarding the Homeland Safety International Fair Fund, including the Distribution Plan, the Distribution Plan Notice, the Claim Form, relevant deadlines, and related materials are available on the Distribution Website at www.HomelandSafetyFairFund.com.  You may obtain additional information or request copies of the Claim Form by contacting the Distribution Agent toll-free at (833) 636-2110, emailing info@HomelandSafetyFairFund.com, or writing to:

Homeland Safety International Fair Fund
c/o JND Legal Administration
PO Box 91240
Seattle, WA 98111

Please check the website www.HomelandSafetyFairFund.com frequently for updates. For any questions, visit www.HomelandSafetyFairFund.com, call toll-free 1-833-636-2110 or email info@HomelandSafetyFairFund.com.

 

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SOURCE JND Legal Administration

FAQ

What is the Homeland Safety International Fair Fund?

The Fair Fund, totaling $1.6 million, is designed to compensate investors harmed by the company's past fraudulent promotional activities.

Who is eligible for the Homeland Safety International Fair Fund distribution?

Investors who purchased HSFI securities between May 17, 2005, and April 6, 2006, may be eligible.

What is the deadline for submitting claims to the Fair Fund?

Claim Forms must be postmarked by June 16, 2022.

Where can I find the Claim Form for the Fair Fund?

The Claim Form is available at HomelandSafetyFairFund.com.

Who manages the distribution of the Fair Fund?

The distribution is managed by JND Legal Administration, appointed as the Distribution Agent.