December 20, 2018 (Oakland, CA) – On December 20, 2018, Judge Edward Chen approved an alternative distribution plan proposed by Pritzker Levine LLP as part of an SEC receivership action pending in the U.S. District Court for the Northern District of California. The SEC action was brought against managers of certain investment funds. Pritzker Levine, representing the SRA Funds Investor Group, comprised of more than 135 accredited investors in the investment funds, opposed a distribution plan jointly submitted by the SEC and the receiver that contemplated liquidating all investments in the funds at discounted rates. The court-approved alternative plan, proposed by Pritzker Levine, follows the original investment objections of investors by allowing the investments to mature and ensures that shares, rather than cash, will be distributed to investors upon liquidity as anticipated in investors’ share purchase agreements.
About Pritzker Levine
Pritzker Levine LLP is national litigation firm with offices in California and New York. The firm serves corporate clients, public entities, pension funds, small businesses, nonprofit groups, labor unions, whistleblowers and injured persons in cases involving antitrust violations, securities fraud and derivative claims, commercial disputes, consumer protection, financial wrongdoing, employment law and personal injuries.