Defendant Name: Fairmount Santrol Holdings Inc.

Defendant Type: Subsidiary of Public Company

Document Reference: 34-91103

Document Details

Legal Case Name In the Matter of Covia Holdings Corp. and Fairmount Santrol Holdings Inc. now known as Bison Merger Sub I, LLC
Document Name Extension Order
Document Date 11-Feb-2021
Document Format Administrative Proceeding
File Number 3-20163
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated: " IT IS HEREBY ORDERED that the Division’s request for an extension of time until August 31, 2021 to submit a Proposed Plan of Distribution is granted."

Disgorgement & Penalty Information

Resolutions
The Commission stated: " IT IS HEREBY ORDERED that the Division’s request for an extension of time until August 31, 2021 to submit a Proposed Plan of Distribution is granted."
Fair Funds
Plan of Distribution
Monetary Penalties:

Civil Penalty

Individual:     $17,000,000.00 Shared:    

Related Documents:

33-10897 08-Dec-2020 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On December 8, 2020, the SEC instituted settled cease-and-desist proceedings against Covia Holdings Corp. and Fairmount Santrol Holdings Inc. stating: "From 2014 to March 2018, Fairmount, a provider of sand-based products used by oil and gas exploration and production companies for fracking, misled investors by overstating the performance and commercial potential of high-margin proppant products it was developing and selling, PowerProp, Propel SSP and Propel SSP 350."
33-10897-s 08-Dec-2020 Administrative Summary
SEC Charges Fairmount Santrol for Misleading Investors About the Effectiveness of Its Products
The SEC "announced settled charges against Fairmount Santrol (now known as Bison Merger Sub I, LLC) and its successor after a merger, Covia Holdings Corporations, for Fairmount overstating the performance and commercial potential of high-margin products it was developing and selling to oil and gas exploration companies for use in fracking."
34-91187 23-Feb-2021 Administrative Proceeding
Order Appointing Tax Administrator
The SEC stated: "it is ORDERED that Miller Kaplan, pursuant to and in accordance with the Omnibus Order, is appointed the Tax Administrator for the QSF in the above-referenced proceeding."
34-92211 21-Jun-2021 Administrative Proceeding
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The SEC ordered that: "Analytics is appointed as the fund administrator . . . in the amount of $1,000,000.00."
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The SEC ordered that: "Division’s request for an extension of time until January 31, 2022 to submit a Proposed Plan of Distribution is granted."
34-93579 16-Nov-2021 Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
34-93579-pdp 16-Nov-2021 Administrative Proceeding
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The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission."
34-93981 13-Jan-2022 Administrative Proceeding
Order Approving Plan of Distribution
The Commission ordered that: "the Proposed Plan is approved, and the approved Plan of Distribution shall be posted simultaneously with this order on the Commission’s website at www.sec.gov."
34-93981-dp 13-Jan-2022 Administrative Proceeding
Plan of Distribution
The Commission stated: "The Respondents have paid in full. The Fair Fund has been deposited at the United States Department of the Treasury’s Bureau of the Fiscal Service (“BFS”) for investment. Other than potential interest income from the BFS investment, the Commission does not anticipate that the Fair Fund will receive additional funds."
34-98844 01-Nov-2023 Administrative Proceeding
Order Directing Disbursement of Fair Fund
The Commission ordered that: "Commission staff shall transfer $946,208.30 from the Fair Fund to the Fair Fund’s escrow account at The Huntington National Bank, N.A. in accordance with the Payee List, and the Fund Administrator shall distribute such monies in accordance with the Plan."

Other Defendants in Action:

Covia Holdings Corp.