Investors due a reimbursement from the mutual fund scandals shouldn't get hopes up of striking gold. The process of going through years of investment history for thousands of investors is costly, and some investors may end up with chump change of $10 or less, according to the Wall Street Journal.
Consultants have been trying to figure out the best way to distribute the settlement money. Two large companies that owe investors settlement funds--Pilgrim, Baxter & Associates Ltd's PBHG Funds and Columbia Management Advisors Inc.'s Columbia Funds--distributed plans for public comment, with the comment period recently closing. An SEC spokesman said the agency is analyzing the comments, but there is no timeline yet for when the distribution plans will be finalized.