If you purchased shares of America West Resources, Inc. (“America West”) common stock on February 23, 2012 and/or February 24, 2012, and suffered a loss according to the Distribution Plan, you may be eligible for a payment from the Fair Fund.
The SEC Commission filed a complaint against John Babikian for his role in a securities fraud known as “scalping”, or recommending the purchase of a stock and immediately selling the stock without adequately disclosing the intent to sell. Babikian used a platform of affiliated microcap stock promotion websites to fraudulently promote and illegally scalp Utah-based coal mining corporation America West Resources.
A Fair Fund was established by the Court to distribute $3.7 million in disgorgement, prejudgment interest and civil money penalties paid by John Babikian to compensate investor victims of the fraud.
|Important Dates and Deadlines|
|SEC Recovery Period||February 23, 2012 through and including February 24, 2012|
|Claim Filing Postmark Deadline||January 2, 2019|
|Initial Distribution of the Fair Fund||July 17, 2020|