PA Fund Management LLC f/k/a PIMCO Advisors Fund Management LLC et al.

On September 13, 2004, the SEC instituted settled administrative and cease-and-desist proceedings against PA Fund Management LLC f/k/a PIMCO Advisors Fund Management LLC, PEA Capital LLC f/k/a PIMCO Equity Advisors LLC, and PA Distributors LLC f/k/a PIMCO Advisors Distributors LLC (the “PIMCO Equity Entities”). The SEC issued an Order finding that the PIMCO Equity Entities violated the federal securities laws by permitting undisclosed market timing in some of their mutual funds. As part of the settlement, the PIMCO Equity Entities must pay $8,383,262 in disgorgement and $40 million in a civil penalty for distribution to defrauded shareholders. For more information on the SEC’s action, you can read In the Matter of PA Fund Management LLC et al. at IA-2292 (Sept. 13, 2004).

Under the terms of the SEC’s Order, the PIMCO Equity Entities, through an independent distribution consultant, must submit a distribution plan to the SEC to distribute the total amount of $48,383,262 to defrauded investors. According to the Commission's Rules of Practice, notice of the proposed Distribution Plan must be published for at least 30 days, specifying how copies of the proposed Distribution Plan may be obtained, and describing the process by which persons may comment on the Plan. A link to that Notice will be provided on this website and the Notice shall be published in the SEC Docket.