NEW YORK, Feb. 22, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued regarding the China Energy Savings Technology, Inc. (“China Energy”) Fair Fund:

UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF NEW YORK

 Securities and Exchange Commission v. China Energy Savings Technology, Inc., et al.,
Civil Action No. 06-cv-6402 (ADS)

Attention all persons or entities who purchased or otherwise acquired China Energy common shares in the United States between July 1, 2004 and February 15, 2006, inclusive

If you purchased or otherwise acquired China Energy Savings Technology, Inc. (Ticker: CESV) common shares in the United States between July 1, 2004 and February 15, 2006, inclusive (“Recovery Period”) and the shares were sold at a loss or continue to be held, you may be eligible for compensation for harm to investors caused by Defendants' stock manipulation “pump and dump” scheme and other violations of the securities laws.

The China Energy Fair Fund (“Fair Fund”) was established by the Court to distribute monies to investors harmed by China Energy's manipulation of the market through a pump and dump scheme. The administration of the Fair Fund is governed by the Distribution Plan. A copy of the Distribution Plan, which contains a description of eligibility and other conditions to participation, can be found at www.ChinaEnergyFairFund.com.  

Approximately $5.7 million is available for distribution to harmed investors.

The Court has appointed Kurtzman Carson Consultants, LLC (“KCC”) as the Distribution Agent to administer the distribution, including the claims process.

WHO IS ELIGIBLE FOR COMPENSATION?

If you purchased shares of China Energy common stock, ticker CESV, on the open market in the United States (“Eligible Securities”) between July 1, 2004 and February 15, 2006, inclusive (“Recovery Period”) and calculate a Recognized Claim per the Plan of Allocation, you may be entitled to receive payment from the China Energy Fair Fund, subject to other provisions of the Distribution Plan. 

Whether you will have a Recognized Claim for which you will be compensated depends on a number of factors, which are detailed in the Plan of Allocation section of the Distribution Plan. You should read the Plan of Allocation in the Distribution Plan in its entirety before filing a claim. A final determination of whether you will receive a Distribution Payment, and the amount, is made by the Court-appointed Distribution Agent.

HOW TO OBTAIN COMPENSATION
If you believe you are a Potentially Eligible Claimant and would like to participate, you must complete the Proof of Claim Form in its entirety, sign it, include copies of all required supporting documentation, and return it to:

China Energy Fair Fund
c/o KCC, Distribution Agent
P.O. Box 404060
Louisville, KY 40233-4060

A Proof of Claim Form can be obtained by visiting the website, www.ChinaEnergyFairFund.com. 

You can also submit via online claim form at the same website. There is a link on the website which allows a Potentially Eligible Claimant to complete the Proof of Claim Form.  The link is found on the “File A Claim” tab of the website under the header “Submit Your Proof of Claim Online.”

You can also request that a Notice and Proof of Claim Form packet be sent to you via mail by calling 1-866-666-7977.

YOUR COMPLETED AND SIGNED PROOF OF CLAIM FORM, WITH ALL OF THE REQUIRED SUPPORTING DOCUMENTATION, MUST BE POSTMARKED OR SUBMITTED ONLINE, NO LATER THAN JUNE 4, 2019 (THE “CLAIMS BAR DATE”).

ADDITIONAL INFORMATION

This notice provides only summary information regarding the Fair Fund.  We strongly recommend that you read the Distribution Plan, including the Plan of Allocation, and other relevant case documents in their entirety for more complete details. The documents can be found at www.ChinaEnergyFairFund.com.

If you need assistance completing the Proof of Claim Form or if you have any questions about this Fair Fund, you may obtain more information by visiting the Fair Fund website at www.ChinaEnergyFairFund.com, by calling the dedicated toll-free number at 1-866-666-7977 or sending an email inquiry to info@ChinaEnergyFairFund.com.

APPLY NOW!

Dated: February 8, 2019

Source: Kurtzman Carson Consultants, LLC

Press Contact:
Daniel Marotto
Senior Vice President, KCC
dmarotto@kccllc.com