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Settlement Notices in SEC’s $450 Million Enron Settlement Now Available
The deadline for Enron shareholders to file a claim for their share of the $7.2 billion Enron securities class action settlement has come and gone, but shareholders are now receiving new notices to submit claims in the SEC’s separate $450 million settlement in its Enron cases. As discussed by the Houston Chronicle, the SEC settlement [...]
SEC Completes Distribution of $42 Million Ameriprise Fair Fund
The SEC continued its recent string of Fair Funds distributions on Thursday, announcing the completion of a nearly $32 million Fair Fund distribution to current and former customers of Ameriprise Financial Services, Inc. (formerly known as American Express Financial Advisors Inc.) The SEC stated that approximately 575,000 investors were affected by what it alleged were [...]
SEC Announces $49 Million Distribution in Franklin-Templeton Funds Settlement
Building on six other Fair Funds settlement distributions it has announced since June 2008, the SEC stated today that a Fair Fund distribution of approximately $49 million went out today to investors who were affected by improper market timing in mutual funds managed by Franklin Advisers, Inc. of the Franklin-Templeton Investments complex. The remainder of [...]
SEC Pays Up! Fair Funds Doled Out to Investors
by Bruce Carton A little known office established just six months ago within the Securities and Exchange Commission seems to have hit its stride this summer, producing tangible results for investors and possibly signaling the end of six years of frustration for the SEC. Since 2002, the SEC has struggled mightily (and publicly) to develop [...]
Flow of SEC Fair Funds Distributions Turns to Torrent
by Bruce Carton Two months ago we speculated here that while it was too early to declare a trend based on just two announcements, it sure looked like money was starting to flow to investors from the SEC’s newly created Office of Collections and Distributions. In the past two weeks, that flow has turned into [...]