Putnam Execs' Fraud Claims Dismissed

Law360, New York (March 7, 2007, 12:00 AM EST) -- A district court has dismissed fraud charges brought by the U.S. Securities and Exchange Commission against three former Putnam Fiduciary Trust Company executives accused of covering up a $4 million in errors in clients' retirement and defined contribution plans.

U.S. District Judge Nathaniel M. Gorton on Tuesday granted motions to dismiss the charges against three of the six former Putnam Fiduciary Trust Company executives: Virginia A. Papa, Kevin F. Crain and Sandra G. Childs.

Gorton said the SEC's complaint “identifies no explicit acts taken” by the...
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