UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 81620 / September 14, 2017

ADMINISTRATIVE PROCEEDING 

File No. 3-17791

In the Matter of

Orthofix International N.V.

Respondent.

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SECOND EXTENSION ORDER

The Division of Enforcement (“Division”) has requested a second extension of time 

until March 15, 2018 to submit a Proposed Plan of Distribution under Rule 1101(a) of the 

Commission’s Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1101(a).

On January 18, 2017, the Commission issued an Order Instituting Cease-and-Desist 

Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the 

Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a 

Cease-and-Desist Order (“Order”)1against Orthofix International N.V. (“Orthofix”). The 

Order required Orthofix to pay an $8,250,000.00 civil money penalty. The Order also created 

a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so 

the penalties could be distributed to harmed investors (the “Fair Fund”). The Order further 

provided that the Fair Fund could receive funds from and/or be combined with fair funds 

established for civil penalties paid by other respondents for conduct arising in relation to the 

violative conduct at issue in the Order.

 

1

 Securities Act Rel. No. 10281 (Jan. 18, 2017).
2

Orthofix has paid $8,250,000.00 as ordered into the Fair Fund, and monies paid in

three related cases2 will be combined with the Fair Fund, for a total of $8,370,000.00, for 

distribution to harmed investors.

On March 31, 2017, the Commission issued an order extending the Division’s time 

until September 15, 2017 to submit a Proposed Plan of Distribution.3In its second request for 

an extension of time, the Division states that it needs additional time to complete the 

appointment of the fund administrator in this matter and to allow for time to develop a 

proposed plan of distribution. 

Accordingly, for good cause shown, IT IS HEREBY ORDERED that the Division’s 

request for an extension of time until March 15, 2018 to submit a Proposed Plan of 

Distribution is granted.

For the Commission, by its Secretary, pursuant to delegated authority. 

Brent J. Fields

Secretary

 

2

 See In the Matter of Jeffrey Hammel, CPA, Order Instituting Public Administrative and Cease-and-Desist 

Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities 

Exchange Act of 1934, and Rule 102(e) of the Commission’s Rules of Practice, Making Findings and Imposing 

Remedial Sanctions and a Cease-and-Desist Order, Securities Act Rel. No. 10282 (Jan. 18, 2017), Admin. Proc.

File No. 3-17792; In the Matter of Brian McCollum, Order Instituting Cease-and-Desist Proceedings Pursuant to 

Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Cease-and-Desist Orders 

and Remedies, Exchange Act Rel. No. 79819 (Jan. 18, 2017), Admin. Proc. File No. 3-17793; and In the Matter 

of Kenneth Mack and Bryan McMillan, Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C 

of the Securities Exchange Act of 1934, Making Findings, and Imposing Cease-and-Desist Orders and Penalties, 

Exchange Act Rel. No. 79820 (Jan. 18, 2017), Admin. Proc. File No. 3-17794.

3

 Exchange Act Rel. No. 80353 (Mar. 31, 2017).