If you purchased or acquired shares of Americas Energy Company-AECo, formerly Trend Technology Corporation (“Americas”) common stock on September 9, 2009 through the Close of Trading on September 2, 2010 (the “Eligible Securities”), and suffered a loss according to the Distribution Plan, you may be eligible for a payment from the Distribution Fund.
The SEC Commission filed a complaint against Bruce D. Strebinger (“Strebinger”), Brent Howard Chapman (“Chapman”), and Muskateer Investments, Inc. (collectively, “Defendants”) for coordinating a fraudulent scheme relating to the Eligible Securities. The Commission charged that, from 2009 to 2010, the Defendants violated federal securities laws by acquiring positions of more than 5% of Americas common stock without publically disclosing their beneficial ownership status. While acquiring the shares of Americas stock, Strebinger and Chapman also coordinated a massive campaign to promote the common stock through blast emails and direct mailings of stock promotion reports authored by third persons.
The Defendants were ordered to pay a total of $4,315,640.00 in disgorgement. The Commission was ordered to hold all funds (collectively, the “Distribution Fund”), pending further order of the Court. The Defendants have paid a total of $4,315,640.00 into the Distribution Fund for distribution to harmed investors.