Reserve Management Co.'s board has set aside $3.5 billion of the remaining assets in its failed Primary Fund to cover costs and expenses for pending lawsuits against the fund. Shareholders can expect to see distributions of 91.72 cents for each dollar, unless the board decides to hold more back in the special lawsuit reserve. The net asset value of the Primary Fund is currently listed at 97 cents per dollar.

"No one would be happier than us to distribute more money," the Primary Fund's independent trustees said in a statement. "Unfortunately, there are 27 lawsuits seeking all sorts of damages, leaving us no choice but to set aside this sum to protect the interests of all the shareholders."

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