A Massachusetts appeals court has denied a $15 million payout to Peter Scannell, the former Putnam Investments call center employee who blew the whistle on mutual fund trading and set off an industrywide scandal.

Scannell had sought up to a $15 million share of Putnam’s $193.5 million settlement under the provisions of a Massachusetts law called the False Claims Act, designed to give incentives to whistleblowers. The court said it was denying Scannell’s claim because he failed to file a lawsuit.

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