New Jersey regulators Tuesday filed civil fraud charges against the PIMCO mutual fund group, alleging that the company defrauded investors by allowing a hedge fund to engage in improper trading.

According to the complaint, PIMCO parent Allianz Dresdner Asset Management and three related companies, PEA Capital, Pacific Investment Management and Pimco Advisors Distributors, violated a number of securities laws when it allowed Canary Capital to market time their mutual funds.

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