UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 89223 / July 6, 2020 

ADMINISTRATIVE PROCEEDING

File No. 3-17791 

In the Matter of

Orthofix International N.V.

Respondent.

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ORDER DIRECTING 

DISBURSEMENT OF FAIR FUND

ADMINISTRATIVE PROCEEDING

File No. 3-17792

In the Matter of

Jeffrey Hammel, CPA

Respondent.

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ADMINISTRATIVE PROCEEDING

File No. 3-17793

In the Matter of

Brian McCollum

Respondent.

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ADMINISTRATIVE PROCEEDING

File No. 3-17794

In the Matter of

Kenneth Mack and Bryan McMillan

Respondents.

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On April 30, 2018, the Secretary, pursuant to delegated authority, published a Notice of 

Proposed Plan of Distribution and Opportunity for Comment (“Notice”)1pursuant to Rule 1103 

of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s Rules”).2

The Notice advised interested persons that they could obtain a copy of the Proposed Plan of 

Distribution (the “Plan”) from the Commission’s public website or by submitting a written 

request to Keshia W. Ellis, Esq., United States Securities and Exchange Commission, 100 F 

Street, NE, Washington, DC 20549-5876. The Notice also advised that all persons desiring to 

comment on the Plan could submit their comments, in writing, within 30 days of the Notice. The 

Commission received no comments on the Plan during the comment period. On June 22, 2018, 

the Commission issued an Order Approving the Plan of Distribution.3

The Plan provides for the distribution of the Fair Fund plus accumulated interest, less a 

reserve for taxes, fees, and expenses, to Eligible Investors who purchased eligible securities 

during the Recovery Period4and suffered a Recognized Loss as a result of the Respondents’ 

materially overstating its distributor revenue, as calculated by the methodology used in the 

plan of allocation set forth in the Plan. In accordance with the Plan, the Claims Bar Date has 

passed and all timely submitted Claim Forms have been processed by the Fund Administrator 

and all investors whose claims determined ineligible, in whole or in part, have been notified 

and provided the opportunity to cure.

Pursuant to the Plan, the Fund Administrator has submitted a Distribution List of 

1,265 payees and payment amounts determined pursuant to the Plan, in a Commissionapproved format, together with a reasonable assurance letter as to the completeness and 

 

1

 Exchange Act Rel. No. 83133 (Apr. 30, 2018).

2

 17 C.F.R. § 201.1103.

3

 Exchange Act Rel. No. 83497 (June 22, 2018).

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 All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Plan.
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accuracy of the information. The Commission staff has reviewed the Distribution List and 

requests that, pursuant to Rule 1101(b)(6) of the Commission’s Rules,5the Commission 

authorize the transfer of $8,450,964.53 from the Fair Fund to the Fair Fund’s escrow account 

at The Huntington National Bank for a pro rata distribution by the Fund Administrator to 

Eligible Investors in accordance with the Plan.

Accordingly, it is hereby ORDERED that, pursuant to Rule 1101(b)(6) of the 

Commission’s Rules, 17 C.F.R. § 201.1101(b)(6), the Commission staff shall transfer

$8,450,964.53 from the Fair Fund to the Fair Fund’s escrow account at The Huntington

National Bank for distribution by the Fund Administrator to Eligible Investors in accordance 

with the Plan.

By the Commission.

Vanessa A. Countryman 

Secretary 

 

5

 17 C.F.R. § 201.1101(b)(6).