Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, January 19, 2007

Fred Alger Settle SEC Market-Timing and Late Trading Charges

The SEC announced that Fred Alger Management and Fred Alger & Co. will pay $40 million to settle charges that the companies allowed market timing and late trading in the Alger Fund, $30 million in disgorgement and $10 million in a penalty.  All the funds will be  used to compensate investors.  See IN THE MATTER OF FRED ALGER MANAGEMENT, INC. AND FRED ALGER & COMPANY,INCORPORATED (01/1/07)

http://lawprofessors.typepad.com/securities/2007/01/fred_alger_sett.html

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