$36 million paid to California investors to-date from Prudential Securities settlement fund; 65 percent of eligible claimants have not yet filed claims with two months left in the program.LOS ANGELES--(BUSINESS WIRE)--Nov. 1, 1994--More than 15,000 California investors have received more than $36 million in restitution In the context of Criminal Law, state programs under which an offender is required, as a condition of his or her sentence, to repay money or donate services to the victim or society; with respect to maritime law, the restoration of articles lost by jettison, done when the and damages from a claims fund set up as part of the settlement between the Securities and Exchange Commission and Prudential Securities of a lawsuit alleging fraud in connection with the sale of limited partnership interests by Prudential-Bache Securities in the 1980s. Despite the availability of the open-ended restitution pool, however, nearly 65 percent of the 42,000 potentially eligible claimants in California have not yet filed claims. California Commissioner of Corporations Gary Mendoza warned Tuesday that the deadline for most of the investors to file is Jan. 10, 1995. Commissioner Mendoza reminded investors that, to participate in the claims process, investors are only required to fill out and return the Prudential settlement claims form by Jan. 10, 1995. The 10-page document asks about the nature of the investment made by the claimant CLAIMANT. In the courts of admiralty, when the suit is in rem, the cause is entitled in the Dame of the libellant against the thing libelled, as A B v. Ten cases of calico and it preserves that title through the whole progress of the suit. and other factors relevant to the evaluation of individual claims. Prudential is then required to make an offer based on the information in the completed form. A participating investor can then either accept or reject the Prudential offer. Those who reject the offer can take advantage of a special court-supervised arbitration process to get a final ruling or pursue whatever other legal rights they might have. Commissioner Mendoza stated: "I want to urge all eligible California investors to carefully consider participating in the claims process. There really is no downside Downside The dollar amount by which the market or a stock has the potential to fall. Notes: You might hear someone say that the downside on stock XYZ is $10. What that means is that the stock could fall by this amount if things got bad. for aggrieved ag·grieved adj. 1. Feeling distress or affliction. 2. Treated wrongly; offended. 3. Law Treated unjustly, as by denial of or infringement upon one's legal rights. investors if they file a claim, and many California investors have received full compensation for their losses through this process." Commissioner Mendoza emphasized that the Department of Corporations and the Prudential Outreach Outreach is an effort by an organization or group to connect its ideas or practices to the efforts of other organizations, groups, specific audiences or the general public. Coordinator/Ombudsman are available to help investors in California. Investors who have misplaced mis·place tr.v. mis·placed, mis·plac·ing, mis·plac·es 1. a. To put into a wrong place: misplace punctuation in a sentence. b. their claims form (or never received one) were also encouraged to contact the Prudential Claims Processing Center at 800/774-0700 and ask that a new copy be sent to them. Commissioner Mendoza also noted, "if investors have gone through the Prudential settlement process and encountered any problems, the Department wants to hear about them." Investors may call or write: -0- Prudential Outreach Coordinator/Ombudsman Department of Corporations 1390 Market St. San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif. 94102 Tel: 800/589-4678 -0- NOTE: The California Department of Corporations is a regulatory and licensing agency which reports to the State Business, Transportation and Housing Agency, and to Gov. Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that . CONTACT: G.W. McDonald, 213/736-3704 |
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