MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, May 11, 2007 MFS Agrees to Settle Class-Action Suit MFS has agreed to settle a consolidated lawsuit over market timing with investors and pension funds for an undisclosed sum, reports Bloomberg. Both the Boston-based fund arm of Canadian insurer Sun Life Financial and Bank One, part of JPMorgan Chase, have stated in court papers their intention to resolve all pending class-action claims against them. The lead plaintiff in the consolidated suit -- presided over by U.S. District Judge J. Frederick Motz in Baltimore -- is the City of Chicago Deferred Compensation Plan. In 2004, MFS paid $351 million to the SEC over market timing charges. Printed from: MFWire.com/story.asp?s=14383 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |