Disgruntled mutual fund investors filed lawsuits against more than 40 of the largest U.S. mutual fund providers for failing to collect and distribute billions of dollars by neglecting to file claim for money from settlements of former shareholder lawsuits, The New York Times reports.

The plaintiffs contend that over the past five years, shareholders won $12.5 billion in settlements from firms like Nike, PeopleSoft and Lucent Technologies, but the investment providers, which are entitled to some of the damages, failed to collect nearly $2 billion.

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