September 19, 2006 8:26 PM
Fund Scandal Payouts Likely To Be Small
Burned in the fund scandal (bet you can hardly feel it)? The remedies are trickling in, but the amount will be small.
From MarketWatch:
If your mutual fund was caught in the industry's trading scandal, there's some good news for you: a reimbursement check may be on the way.
Now for the bad news: that check will likely be small, and it may take awhile to reach you
Over the past few months, the Securities and Exchange Commission has collected comments on three plans to distribute money to harmed investors. The investor-protection agency plans to publish more proposed distribution plans for comment soon, and a spokesman says the first money should start flowing to individuals later this year.
However, the complexity of calculating payments to investors as well as finding some of them is threatening to make the payout process a lengthy one, creating a headache for some companies along the way.
Moreover, say advocates, despite about $2 billion in fines paid by the companies, investors shouldn't necessarily expect a big check.
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