What's Up with Payouts from the Market-Timing Scandal?
Look for a check around Christmas--just don't expect a big check.
Remember the mutual fund market-timing scandal? It's not quite over yet.
No, there aren't new revelations as far as I can see. We're just waiting for fund companies to make their payments to fundholders. Then it will really be over. Although the scandal broke about three years ago when New York attorney general Eliot Spitzer revealed he had uncovered late trading and inappropriate market-timing going on at major fund companies, no fundholders have been compensated through payouts yet.
Finding out the current status of the settlements isn't easy. About the only information I could find on the Web from 2006 was a statement on Janus' site from April.