Company Name | Trading Symbol | Relevant Period Start Date | Relevant Period End Date |
Becton, Dickinson and Company | BDX | 2/5/2019 | 2/5/2020 |
In addition to reviewing the information on this website, you should review the Plan Notice and the Plan of Distribution approved by the Commission, both of which you can find on the Important Documents page of this website.
You should visit this website often to get the most up-to-date information on the Fair Fund.
Overview
On December 16, 2024, the Securities and Exchange Commission (also known as the "SEC" or the "Commission") issued the Order instituting and simultaneously settling cease-and-desist proceedings against Becton, Dickinson and Company (the “Respondent” or “BD”).
In the Order, the Commission found that the Respondent made repeated misrepresentations to investors regarding the risks it was taking in selling its Alaris infusion pump from 2016 to early 2020.
On February 6, 2020, BD conducted an earnings call informing investors that the company needed to revise its financial guidance for the full fiscal year and obtain new 510(k) clearance for the Alaris infusion pump. Additionally, BD informed investors that it would cease selling the device until the FDA granted that clearance. Shares of BD fell by about 12% that day, harming investors who bought BD shares at prices inflated by the company’s disclosure and accounting failures. Without admitting or denying the Commission’s findings, Respondent consented to the entry of the Commission Order which found that Respondent violated Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 and the following provisions of the Securities Exchange Act of 1934: Sections 13(b)(2)(A) and 13(b)(2)(B); Section 13(a) and Rules 13a-1, 13a-11, 13a-13, and 13a-15 thereunder. The Commission ordered the Respondent to pay a $175,000,000.00 civil money penalty to the Commission.
The Commission then established a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty collected from the Respondent could be distributed to harmed investors. The Fair Fund consists of the $175,000,000.00 paid by the Respondent and deposited in a Commission-designated account with the United States Department of Treasury where the funds are invested in an interest-bearing securities account. Accrued interest and any additional funds received pursuant to the Order will be added to the Fund.
If you purchased or acquired the Security during the Relevant Period and suffered losses, you may be eligible for compensation from the Becton Fair Fund. If you received a Plan Notice from the Fund Administrator, you have been identified as someone that may be eligible. For more information, please visit the FAQ page of this website.
How do I obtain more information?
Detailed information about the Fair Fund is contained in the Plan Notice, a copy of which can be found on the Important Documents page in the menu at the top of this webpage. Additional information can also be obtained by contacting the Fund Administrator using the information below.
Fund Administrator
Becton Fair Fund c/o JND Legal Administration PO Box 91229 Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court
How can I be eligible to receive a Distribution Payment?
To be considered for a Distribution Payment, you must timely submit a completed and signed Claim Form, including adequate documentation for claimed transactions. If you believe you may be eligible for a distribution and are not an Excluded Party, you should timely submit a completed and signed Claim Form.
