SEC Makes $69M Payment In Market Timing Case

Law360, New York (September 13, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has made its final distribution in a series of payments to compensate the victims of a market timing scandal at investment firm Pilgrim Baxter & Associates Ltd., paying fundholders $69 million.

The SEC made the disbursement on Wednesday, marking the end of a series of Fair Fund payments and bringing the total funds distributed to $267 million.

Regulators made the first two payments on April 23 and June 13.

The establishment of the Fair Fund was the result of a...
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