Settlement May Be Near In Mutual Fund Class Action

Law360, New York (November 10, 2005, 12:00 AM EST) -- A federal court has dismissed some of the claims in the class action suit against several major mutual funds, in a move that many believe may hasten the settlement of the case.

A panel of three judges in the U.S. District Court for the District of Maryland has dismissed claims against some of the funds involved, including Wachovia Securities, and has decided to allow only certain claims to be processed against others, like Janus Capital and Putnam Investments.

The class action suit seeks damages for investors...
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