Court Finds $200M Market Timing Payout Sufficient

Law360, New York (April 15, 2009, 12:00 AM EDT) -- Plaintiffs in a suit against investment company Putnam Investments Trust have been adequately compensated for their losses by restitution the firm has already paid, a federal judge has ruled.

Judge Frederick Motz of the U.S. District Court for the District of Maryland ruled Tuesday that the approximately $108.5 million in restitution Putnam paid out “more than offsets” the $55.6 million in damages calculated by an independent consultant.

Putnam has already paid out $108.5 million to cover losses in DC/401(k) funds caused by market timing, costs associated...
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