[ by Howard Haykin ] Federal Judge Richard Sullivan issued an order approving the SEC's proposed plan of distribution in SEC v. The BISYS Group, Inc. 07 Civ. 4010 (RJS) (S.D.N.Y.).  As proposed, A.B. Data, Ltd., the claims administration firm that served as the court-appointed claims administrator will implement the Plan and administer the distribution. Approximately $25 million paid by BISYS in settlement of this financial reporting case, plus additional funds added from the Fair Fund created in a related case - SEC v. Steven Wevodau - will be made available and distributed to shareholders who acquired and held BISYS stock during the period beginning 10/23/00 and ending on 4/22/04 (the "Recovery Period"), and suffered a loss on their investment, as calculated under the Plan. SEC Complaint Against BISYS. Filed 5/23/07, the SEC alleged that BISYS violated the financial reporting, books-and-records, and internal control provisions of the Securities Exchange Act of 1934 by engaging in a variety of improper accounting practices that resulted in material overstatements of BISYS's reported financial results by roughly $180 million in fiscal years 2001, 2002, and 2003.  As a result, the Commission alleged that BISYS filed annual and quarterly reports, and other documents, that materially misstated its results for the fiscal years ended 6/30/ 2001, 2002, and 2003, as well as interim quarters during those fiscal years, and the quarters ended 9/30 and 12/31/03. On 7/27/07, the Court entered a final judgment against BISYS, to which BISYS consented without admitting or denying the allegations in the complaint.  BISYS is now known as Citi Investor Services, Inc. For more information about the distribution, please go to the Claims Administrator's website, http://bisyslitigation.com or call 800-949-0206. For further details, go to:  [SEC Litigation Release 22379, 5/29/12].