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 27, 2011 A Suit Revives Putnam's Market-Timing Ghosts Even eight years later, the market-timing scandals continue to sporadically haunt the few mutual fund firms that survived them in one piece. The Boston Globe's Steven Syre reports that last month Justin Scott, an ex-[Putnam [see profile] portfolio manager who settled with the SEC and the State of Massachusetts for more than $1 million over his alleged market-timing, filed suit against the fund firm over allegedly unpaid deferred compensation [see The MFWire, 10/29/2003 and 6/4/2007]. A Putnam spokesman told the Globe that "upon initial assessment" the firm finds Scott's suit to be "completely without merit." Scott claims he lost money trading Putnam shares between March and May 2000 and that he "did not even rank in the top 150 employees" in fund trading activity in the years leading up to the market timing scandal. Printed from: MFWire.com/story.asp?s=36922 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |