The case against Massachusetts Financial Services grew stronger Friday as an internal review revealed that mutual fund shareholders suffered $100 million in losses due to illegal late trading, The Wall Street Journal reports.

MFS, the nation’s 11 th largest mutual fund firm, discovered that investors made these improper trades through 10 different broker dealers, including Security Brokerage, the clearing arm of Bank of America and Bear Stearns, the Journal said, citing people familiar with the matter.

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