Frequently Asked Questions

  1. Why did I receive a Notice?

    You or someone in your family may have purchased or acquired America West common stock stock on February 23, 2012 and/or February 24, 2012.

    You may review a copy of the Distribution Plan Notice here.

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  2. What is this lawsuit about?

    The 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.

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  3. What is the Recovery Period?

    The Recovery Period is February 23, 2012 through the close of trading on February 24, 2012.

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  4. Who is eligible to participate in the Distribution Fund?

    Please note that the deadline to file a claim has passed.

    The Initial Distribution took place on July 17, 2020. You were eligible if you purchased America West common stock on February 23, 2012 and/or February 24, 2012 and suffered a loss according to the Distribution Plan, which can be found here.

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  5. What is the total amount of the Fair Fund?

    Pursuant to the Distribution Plan, $3,730,000.00 was paid to the Commission. The funds were deposited into an interest-bearing account with the United States Treasury’s Bureau of Fiscal Service for investment.

    The Fair Fund was distributed to Eligible Claimants in accordance with the provisions of the Court-approved Distribution Plan. The Initial Distribution took place on July 17, 2020.

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  6. How do I receive a Distribution Payment?

    In order to be eligible to receive a Distribution Payment, you must have purchased America West common stock during the Recovery Period, and you must submit a completed Proof of Claim Form on or before the claims deadline of January 2, 2019. Please note that the deadline to file or make changes to a claim has passed.

    The Initial Distribution took place on July 17, 2020.

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  7. Who is excluded from participation in the Distribution Fund?
    • Any Affiliates, assigns, creditors, heirs, distributees, spouses, parents, children, or controlled entities;
    • Any Defendant in any action brought by the Commission related to the conduct described in the Complaint or any related Commission action, unless and until such defendant is found not liable in all such civil suits prior to the Claims Bar Date, and proof of the finding(s) is included in such defendant’s timely filed Proof of Claim Form;
    • Any Person who, as of the Claims Bar Date, has been the subject of criminal charges related to the violations alleged in the Complaint or any related Commission action, unless and until such Person is found not guilty prior to the Claims Bar Date, and proof of the finding(s) is included in such Person’s timely filed Proof of Claim Form;
    • Any Purchaser or Assignee of another Person’s right to obtain a Distribution Payment from the Fair Fund, provided, however, that this provision shall not be construed to exclude those Persons who obtained such a right by gift, inheritance, devise or operation of law; and/or
    • The Distribution Agent, its employees, and those persons assisting the Distribution Agent in its role as the Distribution Agent.
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  8. What is Epiq’s Relationship to the Defendants/SEC/Case?

    Epiq is the Distribution Agent hired to fulfill certain responsibilities in this case such as mailings, review of claims, distribution and other administration tasks.

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  9. How will my information be protected?

    As a long-established legal services firm, our electronic systems, software applications, employee and operational protocols are all designed to afford utmost protection and security for the case information provided to us. Further, we are obligated to fulfill the security requirements mandated by the various Court Jurisdictions and Governmental Entities that oversee the various types of cases we administer.

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  10. Who should I contact to get the required supporting documentation to send in with my claim?

    Please note that the deadline to file or make changes to a claim has passed.

    The Initial Distribution took place on July 17, 2020.

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  11. What is considered acceptable/sufficient documentation to support my transactions on my Proof of Claim Form?

    Please note that the deadline to file or make changes to a claim has passed. The Initial Distribution took place on July 17, 2020.

    Acceptable documentation must have included the name of the owner or owners of the account for which you filed a claim, the name of the broker through whom the security was traded, trade date, number of shares purchased, acquired and/or sold, and price paid (excluding brokers’ commissions, taxes and fees).

    Acceptable documentation included contract notes, brokers’ confirmation slips, account activity pages from brokers’ computer printouts (including the front page), or account activity pages from brokers’ monthly statements (including the front page), if those statements contained the required information. Letters from your broker were acceptable only if they were on the broker's letterhead and contained the required information listed above. Your own records or certificates DID NOT constitute acceptable documentation.

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  12. How do I get information about my claim?

    You may contact the Distribution Agent by calling 1-844-616-6342, sending an email to info@SECvJohnBabikianFairFund.com, or by writing to P.O. Box 2995, Portland, OR 97208-2995 for more information.

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  13. What is the CUSIP and ticker for America West common stock?

    The CUSIP for America West common stock during the Recovery Period was 02365V106. The ticker symbol was AWSR.

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