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“The Commission has now returned more than $1.8 billion to injured investors through fair fund distributions in multiple cases,” said Linda Chatman Thomsen, director of the division of enforcement. “This first distribution from the Columbia fair fund marks another significant step in our continuing efforts to distribute fair funds to mutual fund investors.”
The SEC brought its case against Columbia Management Advisors and Columbia Funds Distributor in 2005, for which the companies paid $70 million in disgorgement and $70 million in penalties.