Related Documents:
33-9081
04-Nov-2009
Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A of The Securities Act of 1933, Sections 15(b)(4), 15(b)(6) and 21C of The Securities Exchange Act of 1934, Sections 203(e), 203(f) and 203(k) of The Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of The Investment Company Act of 1940
On November 4, 2009, the SEC instituted a settled administrative proceeding against Value Line, Inc., Value Line Securities, Inc., Jean Bernhard Buttner, and David Henigson. According to the SEC from 1986 to November 2004, the defendants: "engaged in a fraudulent practice that misappropriated assets from the Value Line Family of Mutual Funds (the 'Funds') in the form of inflated brokerage commission payments to VLS, VLI's affiliated broker-dealer."
34-61045
20-Nov-2009
Administrative Proceeding
Order Appointing Tax Administrator
On November 20, 2009, the SEC appointed Damasco and Associates LLP as tax administrator.
34-61316
08-Jan-2010
Administrative Proceeding
Extension Order
On January 8, 2010, the SEC granted the Division of Enforcement's request for an extension of time, until September 30, 2010, to submit a proposed Plan of Distribution.
34-62837
02-Sep-2010
Administrative Proceeding
Order Appointing a Fund Administrator and Waiving Bond
On September 2, 2010, the SEC issued an Order Appointing a Fund Administrator and Waiving Bond. Pursuant to the Order, A.B. Data, Ltd. was appointed as Fund Administrator and the bond requirement was waived for good cause shown.
34-63269
08-Nov-2010
Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
On November 8, 2010, the SEC issued a Notice of Proposed Plan of Distribution and Opportunity For Comment. Previously, on November 9, 2009, the SEC issued an order instituting administrative and cease-and-desist proceedings, making findings, and imposing remedial sanctions and a cease-and-desist order. The Distribution Plan related to a Fair Fund which was created for payment by Value Line, Inc. of disgorgement, prejudgment interest, and civil penalty.
Proposed Plan of Distribution
The SEC issued its proposed plan of distribution. According to the SEC, "the Distribution Plan proposes a distribution to certain injured shareholders of nine Value Line mutual funds that held shares between January 1, 1986 and November 9, 2004." Previously, on November 4, 2009, the SEC instituted settled administrative and cease-and-desist proceedings against Value Line, Inc., Value Line Securities, Inc., and two individuals.
34-63640
04-Jan-2011
Administrative Proceeding
Order Approving Distribution Plan
On January 4, 2011 the SEC issued an Order Approving Distribution Plan. Previously, on November 4, 2009, the SEC issued an order instituting administrative and cease-and-desist proceedings and imposing remedial sanctions and a cease-and-desist order against Value Line, Inc., Value Line Securities, Inc., and two individuals.
Final Plan of Distribution
On January 4, 2011, the SEC Division of Enforcement submitted the Final Plan of Distribution in this matter to the Securities and Exchange Commission. As stated by the SEC, "the Distribution Plan provides for a distribution to certain injured shareholders of nine Value Line mutual funds that held shares between January 1, 1986 and November 9, 2004."
34-69469
26-Apr-2013
Administrative Proceeding
Order Directing Disbursement of Fair Fund
On April 26, 2013, the SEC issued an Order Directing Disbursement of Fair Fund. Pursuant to the Order: "the Commission staff shall transfer $21,053,635.14 of the Fair Fund to The Huntington National Bank, and the Fund Administrator shall distribute such monies to investors, as provided for in the Plan."
34-79553
14-Dec-2016
Administrative Proceeding
Order Directing Disbursement of Fair Fund and Vacating Prior Order of Disbursement
On December 14, 2016, the SEC ordered that "the Order Directing Disbursement of Fair Fund dated April 26, 2013 in this matter is vacated, due to errors subsequently discovered in the validated payment file which was the basis of the April 2013 Disbursement Order", and ordered that "the Commission staff shall transfer $19,657,089.13 from the Fair Fund to The Huntington National Bank, and the Fund Administrator shall distribute such monies to investors."
Notice of Name Change of Appointed Tax Administrator
On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator, and amended the Omnibus Order, beginning June 2017 and for calendar year 2018, to replace all references to Damasco with "Miller Kaplan Arase LLP which acquired Damasco & Associates LLP" in order to reflect Damasco's name change.
34-97949
19-Jul-2023
Administrative Proceeding
Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the Fair Fund in the Future, Discharging the Fund Administrator, and Terminating the Fair Fund
The Commission ordered that: "A. the Fair Fund’s remaining funds and any funds returned to the Fair Fund in the future, shall be transferred to the U.S. Treasury . . . ; B. the Fund Administrator . . . is discharged; and C. the Fair Fund is terminated."
