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 the Fair Fund, approximately $5.7 million including earned interest, is scheduled to be distributed next month. The SEC stated in a press release that the distribution is going out to more than one million recipients.

In addition to today’s distribution, the SEC has since June 2008 announced Fair Funds distributions in six other settlements: Banc of America Capital Management ($103 million); Banc of America Securities ($26 million); Spear & Jackson ($5.6 million); Vivendi Universal ($48 million); Janus Capital Management ($18 million); and Putnam Investment Management ($40 million).

Read the SEC’s press release

1 Comment

  • Cynthia Ross
    Posted September 1, 2010, 5:29 pm 5:29 pm 0Likes

    I owned Franklin Templeton funds between 1998-2003….am I eligible to file t o rocovers monies I lost ?

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