In rapid succession, several market-timing mutual fund cases have come and gone since Gary Pilgrim and Harold Baxter and the Wayne Pa.-based firm that bears their name, Pilgrim Baxter & Associates, were charged with fraud and skirting fiduciary responsibilities by regulators in mid-November, yet the case is still unresolved.

There have been settlement agreements at Alliance Capital, Massachusetts Financial Services, Putnam Investments, and most recently Bank of America and merger partner FleetBoston Financial. A host of others, including Janus Capital, BancOne and Strong Financial, are all said to be nearing conclusions. Yet, Jim Sutcliffe, CEO of Pilgrim Baxter parent company Old Mutual, said last month that a settlement is likely months away for his firm.

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