The Rocky Mountain News has an article on the mutual fund trading practices cases. (The 10b-5 Daily recently posted about the opening hearing in the cases, which have been consolidated in the D. of Md.) The article quotes an expert speculating that the settlements of the cases could total $1 billion.
Quote of note: "'It's hard to figure what a judge may grant in compensation, and that leaves a pretty dark cloud over the entire industry,' [a Morningstar equity analyst] said. 'What will happen in the class-action lawsuits is going to be a problem for any company involved in market timing and late trading.'"Posted by Lyle Roberts at April 28, 2004 9:48 PM | TrackBack