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Reserve Primary Fund Distributes Additional $3.4 Billion
Money market fund distributes an additional $3.4 billion to investors.
Insider Trading … in Mutual Fund Shares?
SEC files rare insider trading cases based on trading in mutual fund shares.
Mass. Securities Regulator Files Fraud Claim Against Reserve Management
The hits keep coming for Reserve Management Co., the mutual fund that “broke the buck” back in September 2008. On Tuesday, Massachusetts’ top securities regulator accused Reserve executives in an administrative complaint of misrepresenting the fund’s safety in an ultimately futile bid to prevent investors from pulling out cash. The company has already been the [...]
Lawsuits Fly After Primary Fund “Breaks the Buck”
Several securities class actions have been filed against Reserve Management Co.’s Primary Fund, which reportedly became the first money-market mutual fund to ever expose retail clients to losses by “breaking the buck.” Although not guaranteed, money-market mutual funds shares historically remain at $1.00 per share. The Primary Fund’s problems reportedly resulted from its holdings of [...]