Rydex Settles Investors' Mutual Fund Action For $5.5M

Law360, New York (February 10, 2012, 7:29 PM EST) -- A California federal judge on Friday signed off on a $5.5 million settlement between Rydex SGI and a putative class of investors who claimed that the financial services firm made false and misleading statements about one of its mutual funds, costing investors millions of dollars.

U.S. District Judge Lucy H. Koh granted final approval to the settlement, which the parties agreed to in principle in May. The $5.5 million figure represents approximately 28 percent of the maximum recovery possible for the investors' claims, according to Alan...
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