On March 5, 2018, the Commission filed a Complaint against Jeffrey O. Friedland (“Friedland”), Global Corporate Strategies, LLC (“Global’), and Intivia Pharma LLC (“Intivia”) (collectively, the “Defendants”) and Lane 6552 LLC (“Lane”), Kathy B. Friedland, Assurance Management, LLC (“Assurance”) and The Jeffrey and Kathy Friedland Irrevocable Trust (“Friedland Trust”) (collectively, the “Relief Defendants”) alleging violations of the federal securities laws. Specifically, the Complaint alleged that, Friedland engaged in a nearly $7 million securities fraud scheme to conceal the nature of his interest in an Israeli medical marijuana company, OWC Pharmaceutical Research Corp. (“OWCP”), to allow him to sell his considerable holdings in OWCP stock into a market that he helped artificially inflate. Friedland touted OWCP to investors while misrepresenting both the nature of his investments in OWCP and his professional relationship with the company. See the Complaint.

The Defendants were ordered, and have paid, a total of $4,179,000.00 (Friedland and Global jointly and severally for disgorgement of $2,089,979.02 and pre-judgment interest of $69,020.98; Friedland for a civil penalty of $2,000,000; Intiva for disgorgement of $20,000). The final judgment also created a Fair Fund (the “Fair Fund”), under Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties, along with the disgorgement and prejudgment interest, can be distributed to harmed investors. Seethe Defendant’s Final Judgment. The Fair Fund is being held in an interest-bearing account at the Bureau of the Fiscal Services of the U.S. Treasury Department.

On May 4, 2020, the Court appointed Miller Kaplan Arase LLP as Tax Administrator to handle the income tax reporting requirements of the Fair Fund. See the Court’s Order. On April 6, 2021, the Court appointed JND Legal Administration as the Distribution Agent to assist in overseeing the administration of the Fair Fund, and in consultation with Commission staff, prepare a Distribution Plan to be filed with the Court. See the Court’s Order.

On December 7, 2021, the Court approved the Commission’s Distribution Plan (the “Plan”). See the Court’s Order and the approved Plan.

The deadline to submit a claim is June 6, 2022. Claim Forms are available here, and more detailed information can be found in the Plan Notice.

For more information, please contact the Distribution Agent:

JND Legal Administration
Telephone No. 877-379-5985
Email: info@jeffreyfriendlandfairfund.com
Website: www.jeffreyfriedlandfairfund.com