One analyst told eFinancial that Amvescap is not only being downgraded for reports of the settlement, but also because the company's first quarter numbers fell short of analysts' projections.
Janus, which suffered $6 billion in outflows during 2003, agreed to pay $50 million back to investors, another $50 million in civil penalties and to cut fund fees by $125 million over the next five years, as part of the settlement. Janus' settlement includes the SEC, the attorneys general of
__
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.
