If you purchased GTV common stock and/or the digital asset security referred to as G-Coins or G-Dollars between April 2020 and June 2020
PR95393
If you purchased GTV common stock and/or the digital asset security referred to as G-Coins or G-Dollars between April 2020 and June 2020, you may be eligible for a distribution payment from the GTV Media Group Fair Fund
SEATTLE, April 16, 2022 /PRNewswire=KYODO JBN/ --
JND Legal Administration announces that on September 13, 2021, the U.S.
Securities and Exchange Commission ("SEC") issued an Order instituting and
simultaneously settling cease-and-desist proceedings against Respondents GTV
Media Group, Inc. ("GTV"), Saraca Media Group, Inc. ("Saraca"), and Voice of
Guo Media, Inc. In the Order, the SEC found that from approximately April 2020
through June 2020, Respondents generally solicited thousands of individuals to
invest in the GTV Common Stock offering. The SEC further found that during the
same period, GTV and Saraca ("the G Entities") also solicited individuals to
invest in the Digital Asset offering. According to the Order, as a result of
these two unregistered securities offerings, whose proceeds were commingled,
Respondents collectively raised approximately $487 million from more than 5,000
investors, including individuals in the United States. The SEC ordered the
Respondents to pay $486,745,063 in disgorgement, plus prejudgment interest of
$17,688,365 and $35,000,000 in civil money penalties, for a total of
$539,433,428, to the SEC. The SEC also created the Fair Fund, pursuant to
Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties paid, along
with the disgorgement and interest paid, can be distributed to harmed
investors. To date, the Respondents have paid a total of $455,439,194.49. Any
additional funds collected from the Respondents pursuant to the Order will be
added to the Fair Fund. The Fair Fund has been deposited at the United States
Department of the Treasury's Bureau of the Fiscal Service ("BFS") for
investment.
G Entities [Relevant Period start and end dates (inclusive)]:
- GTV Common Stock [4/20/2020 through 6/2/2020]; and
- G-Dollars or G-Coins [4/1/2020 through 6/30/2020];
On October 14, 2021, the SEC appointed Miller Kaplan Arase LLP as Tax
Administrator. The SEC also appointed JND Legal Administration as Fund
Administrator (the "Fund Administrator") on November 23, 2021. The SEC approved
a plan for the distribution of the GTV Media Group Fair Fund (the "Plan"). The
Plan is publicly available at www.GTVMediaGroupFairFund.com , and available on
the SEC's webpage for this matter at
https://www.sec.gov/divisions/enforce/claims/gtv-media-group.htm.
If you purchased one or more of the securities listed above during the
corresponding Relevant Period(s) and would like to be considered for
eligibility for a distribution from the GTV Media Group Fair Fund, you must
submit a completed and signed Proof of Claim Form ("Claim Form"), including
adequate supporting documentation of your purchases and a completed tax
certification, to the Fund Administrator by the Claims Bar Date.
The Claim Form is available at www.GTVMediaGroupFairFund.com . You may submit
your Claim Form online no later than 11:59 p.m. PT on the Claims Bar Date
following the directions at www.GTVMediaGroupFairFund.com/claim .
Alternatively, you may send your Claim Form to the Fund Administrator. Claim
Forms must be postmarked no later than the Claims Bar Date if sent by First
Class Mail; and if not by First Class Mail, received by the Fund Administrator
by the Claims Bar Date. If not submitted online, Claim Forms should be
directed to the following address:
GTV Media Group Fair Fund
c/o JND Legal Administration
PO Box 91403
Seattle, WA 98111
Additional information regarding the GTV Media Group Fair Fund, including the
Distribution Plan, the Plan Notice, the Claim Form, relevant deadlines, and
related materials are available on the Distribution Website at
www.GTVMediaGroupFairFund.com . You may obtain additional information or
request copies of the Claim Form by contacting the Fund Administrator toll-free
at 866-853-5013, emailing info@GTVMediaGroupFairFund.com, or writing to:
GTV Media Group Fair Fund
c/o JND Legal Administration
PO Box 91403
Seattle, WA 98111
Please check the website www.GTVMediaGroupFairFund.com frequently for updates.
SOURCE JND Legal Administration
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