Becton Dickinson $175M SEC Fair Fund (BDX)

Current Status

Claims are open. The Claims Bar Date is December 13, 2026: online claims must be submitted by 11:59 p.m. EST that day, a Claim Form sent by First Class Mail must be postmarked by that date, and a form sent any other way must be received by the Fund Administrator by that date. There is no court approval step still to come — the Commission approved the Plan of Distribution on July 16, 2026, and the Fund Administrator is now collecting claims under it. No payment date had been announced as of September 30, 2026.

What Changed Recently?

The claim window is the last stage of an enforcement action that ended nearly two years ago. The Commission issued its order against Becton, Dickinson and Company (BD) on December 16, 2024, appointed JND Legal Administration as Fund Administrator on February 17, 2026, published the proposed Plan of Distribution for comment on April 24, 2026, and approved the final Plan on July 16, 2026. The Plan Notice and Claim Form have since gone out, and the December 13, 2026 Claims Bar Date is the first hard deadline for investors.

The underlying matter is In the Matter of Becton, Dickinson and Company, Administrative Proceeding File No. 3-22361. In its order, the Commission found that BD made repeated misrepresentations to investors from 2016 to early 2020 about the risks it was taking in continuing to sell its Alaris infusion pump. On a February 6, 2020 earnings call, BD revised its full-year financial guidance, said the Alaris pump needed a new FDA 510(k) clearance, and said it would stop selling the device until that clearance was granted. The order states that BD shares fell about 12 percent that day.

The Commission found that BD violated Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933, and Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 along with Rules 13a-1, 13a-11, 13a-13 and 13a-15. It ordered BD to pay a $175,000,000 civil money penalty and set up this Fair Fund under Section 308(a) of the Sarbanes-Oxley Act so the penalty could be distributed to harmed investors. BD consented to the order without admitting or denying the Commission's findings, and the matter was resolved on a cease-and-desist basis rather than through a court judgment.

Who Qualifies?

The Fair Fund covers investors who purchased or otherwise acquired Becton, Dickinson and Company common stock, trading under the symbol BDX, from February 5, 2019 through February 5, 2020, inclusive, and suffered a loss as calculated under the Plan.

Buying inside that window is the starting point, not the whole test. The Fund Administrator decides eligibility: your approved transactions must produce a Recognized Loss under the Plan of Allocation (Exhibit A to the Plan), and your calculated payment must reach the $20.00 Minimum Distribution Amount. Receiving the Plan Notice in the mail does not by itself mean you are eligible, and not receiving one does not mean you are excluded.

A set of Excluded Parties cannot take part at all: BD; its present and former officers and directors, along with their assigns, creditors, heirs, distributees, spouses, parents, dependent children and controlled entities; employees or former employees of BD or its affiliates terminated for cause or who resigned in connection with the conduct described in the order; anyone criminally charged, as of the Claims Bar Date, in connection with that conduct or a related Commission action; entities BD controls or controlled; the Fund Administrator and those assisting it; and anyone who bought another person's right to recover from the fund. A right received by gift, inheritance or devise does not trigger that last exclusion.