# UNITED STATES OF AMERICA

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URL: https://www.frixlaw.com/law-library/documents/agency%3Asec%3A1202dee1f0d4e549

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934
Release No. 96709 / January 19, 2023
ADMINISTRATIVE PROCEEDING
File No. 3-17956

In the Matter of
MagnaChip Semiconductor
Corporation and Margaret HyeRyoung Sakai, CPA,

Respondents.

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ORDER EXTENDING TIME TO
ENTER AN ORDER APPROVING OR
DISAPPROVING PLAN OF
DISTRIBUTION

On August 17, 2022, pursuant to Rule 1103 of the United States Securities and Exchange
Commission’s Rules on Fair Fund and Disgorgement Plans (the “Commission’s Rules”),
17 C.F.R.§ 201.1103, the Commission published a Notice of Proposed Plan of Distribution and
Opportunity to Comment (“Notice”)1 for the distribution of monies placed into a Fair Fund in the
above-captioned matter. The Notice invited public comment on the proposed plan of distribution
(“Plan”) through September 16, 2022, and the Commission received one public comment that
raised various issues (the “Comment”).
Rule 1104 of the Commission’s Rules, 17 C.F.R. § 201.1104, provides in relevant part,
“[t]he order approving or disapproving the plan should be entered within 30 days after the end of
the final period allowed for comments on the proposed plan unless the Commission or the
hearing officer, by written order, allows a longer period for good cause shown.”

1

Exchange Act Rel. No. 95511 (Aug. 17, 2022).

On October 17, 2022, the Secretary, pursuant to delegated authority, issued an order
extending the time to enter an order approving or disapproving the Plan until January 31, 2023.2
The Division states additional time is needed to present its recommendation to the
Commission regarding the Comment and the Plan, and therefore, good cause has been shown to
enter an order extending time to approve or disapprove the Plan until April 30, 2023.
Accordingly, IT IS ORDERED that pursuant to Rule 1104 of the Commission’s Rules,3
for good cause shown, the time for entering an order approving or disapproving the Plan is
extended to April 30, 2023.
For the Commission, by its Secretary, pursuant to delegated authority.

Vanessa A. Countryman
Secretary

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Exchange Act Rel. No. 96095 (Oct. 17, 2022).
17 C.F.R. § 201.1104.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Asec%3A1202dee1f0d4e549. Public record. Not legal advice.