The SEC filed papers with the U.S. District Court in Denver that amend its lawsuit to include more charges and more defendants, although specifics were not divulged. The company's president, Ray Cunningham, was charged last December for permitting his favorite investors to execute quick, in-and-out trades of mutual fund shares. In that prior complaint, three other Invesco officials, CIO Tim Miller, Senior Vice President Thomas Kolbe and market-timing "monitor" Michael Legoski, were named but not charged.
Kolbe and Cunningham are currently on leave, Legoski has retired, and Miller is no longer CIO, but a portfolio manager.
Amvescap, after originally denying all charges, had said in January that it was in settlement negotiations with the SEC.
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