Essential Information Regarding Claims Submission Dates

Key Information about Claim Submission for Investors

In a crucial development for investors, the Court has approved procedures for resolving claims related to the case involving Legend Venture Partners LLC. This was initiated by the U.S. Securities and Exchange Commission (SEC), which appointed Melanie Cyganowski as Receiver to oversee the resolution of claims against Legend. This follows allegations that Legend breached U.S. securities laws through its sales in various pre-IPO companies.

Important Bar Dates for Submitting Claims

The approved procedures establish important deadlines, known as bar dates, by which claims must be submitted. Specifically, non-governmental claimants must submit their claims by August 25, while governmental claimants have until September 24. It is essential for any person or entity claiming compensation, for reasons such as unpaid services or loaned money, to adhere strictly to these timelines.

Who Should Submit a Claim?

Claimants include individuals or entities asserting a range of financial claims. This includes any services rendered or loans that remain unpaid, tax obligations, and various liabilities. Investors holding interests in Legend should refrain from submitting claims based on their investment. Instead, they will receive direct statements reflecting their investment status.

How to Submit Your Claim

Those wishing to file a claim must carefully follow the instructions provided on the Receiver's website. Claim submission can be done via first-class mail, overnight services, or by e-mail in a specified format, alongside any necessary supporting documentation. This is critical, as failure to provide all required documentation may jeopardize the claim status.

Submitting a Proof of Claim Effectively

It is vital to ensure that claims are submitted accurately and within the specified timeframes. For example, the cut-off for non-governmental claims is 5:00 p.m. on August 25, and for governmental claims, it is 5:00 p.m. on September 24. Neglecting these deadlines could result in the forfeiture of rights to any potential distributions or participation in the resolution process.

Distribution Plan for Approved Claims

Alongside the claims process, the Receiver has proposed a distribution plan. This plan ensures that, as liquidity events occur, there will be distributions made to eligible investors and holders of valid claims. The details of this plan can also be found on the Receiver's website, providing transparency about future distributions.

Final Thoughts on the Claim Process

Staying informed about filing requirements and deadlines is paramount for anyone who believes they have a valid claim against Legend Venture Partners. As the situation develops, remaining engaged and proactive will be beneficial for all stakeholders involved. If you are uncertain about your claim status or filing procedure, all the necessary resources are provided on the official website.

Frequently Asked Questions

What is the purpose of the claims resolution procedures?

The purpose is to manage and resolve claims against Legend Venture Partners following regulatory actions by the SEC.

What are the deadlines for filing claims?

Non-governmental claimants must submit claims by August 25, while governmental claimants need to do so by September 24.

Who qualifies as a claimant in this process?

Claimants can be any individual or entity asserting claims regarding unpaid goods, services, loans, or tax liabilities.

How can I submit my claim?

Claims can be submitted via mail, overnight service, e-mail, or through an electronic form found on the Receiver's website.

Will investors receive their statements?

Yes, all investors will receive direct statements relating to their investments from Legend, and are not required to submit claims based on their investment interests.

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