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 April 6, 2022, Homeland Safety International announced the availability of a Fair Fund for investors harmed by its past fraudulent activities between May 2005 and April 2006. This follows a SEC complaint filed against the company and others in July 2008. The Fair Fund, established by a U.S. District Court, totals $1.6 million with accrued interest. Eligible claimants must submit a completed Claim Form by June 16, 2022, to receive compensation. Details and forms are available on the official Fair Fund website.

Positive

• Establishment of a $1.6 million Fair Fund for investors harmed by past fraud.
• Court-approved distribution plan provides a structured way for eligible investors to claim compensation.

Negative

• Ongoing reputation damage due to past fraudulent activities.
• Potential risks associated with the company's historical legal issues may deter new investors.

SEATTLE, April 6, 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.

 

View original content:https://www.prnewswire.com/news-releases/if-you-purchased-the-securities-of-homeland-safety-international-inc-fka-sniffex-inc-between-may-2005-and-april-2006-you-may-be-eligible-for-distribution-from-the-homeland-safety-international-fair-fund-301505277.html

SOURCE JND Legal Administration

FAQ

What is the Fair Fund for Homeland Safety International?

The Fair Fund is a compensation fund of $1.6 million for investors affected by past fraudulent activities between May 2005 and April 2006.

How can I file a claim for the Homeland Safety Fair Fund?

Eligible investors must submit a completed Claim Form by June 16, 2022, available on the Fair Fund's official website.

What are the deadlines for claiming from the Homeland Safety Fair Fund?

Claim Forms must be postmarked or received by June 16, 2022.

Where can I find more information about the Homeland Safety Fair Fund?

More information is available at www.HomelandSafetyFairFund.com.

Why was the Homeland Safety Fair Fund established?

It was established as a result of a SEC complaint regarding fraudulent activities that inflated the trading volume and price of the company's stock.