Value Line To Pay $45M Over Bogus Commissions

Law360, New York (November 4, 2009, 5:56 PM EST) -- Investment research firm Value Line Inc. is set to fork over nearly $45 million to put to rest claims by the U.S. Securities and Exchange Commission related to commissions allegedly paid to the company's brokerage unit.

The New York City-based investment adviser, which analyzes stocks and other securities and publishes the popular Value Line Investment survey, agreed to the deal without admitting or denying the SEC’s charges, the agency said Wednesday.

The SEC charged Value Line, CEO Jean Buttner, former Chief Compliance Officer David Henigson, and...
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