Gabelli Settles Investor Dispute For $100M

Law360, New York (May 5, 2006, 12:00 AM EDT) -- Money manager Mario Gabelli has agreed to pay $100 million to settle allegations of share manipulation brought by two long-time investors in Gabelli Group Capital Partners Inc. (GGCP), Gabelli’s mutual fund.

Gabelli will pay Frederick J. Mancheski and David Perlmutter in a combination of equity and cash, including about 2.1 million shares of Gamco Investors Inc., Gabelli’s money-management firm, worth about $80 million and corresponding to the shares they held in GGCP.

The investors will also receive about $20 million in cash compensation.

When the Gamco...
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