September 9, 2004 |
The former chief executive of Invesco Funds in Denver has agreed to pay $500,000 to settle civil fraud charges relating to improper trading of the firm's mutual funds, his lawyer said Wednesday. Raymond Cunningham also agreed to be banned from the industry for two years. The news came a day after Colorado Atty. Gen. Ken Salazar said Invesco and its sister company, AIM Advisors Inc.
September 8, 2004 |
Invesco Funds Group and a sister company agreed Tuesday to settle allegations of improper trading in a proposed deal that would send $375 million to investors who were harmed by the practice. Invesco of Denver would pay $325 million to resolve litigation alleging it permitted excessive market timing in its funds, Colorado Atty. Gen. Ken Salazar said. A sister company, AIM Advisors Inc. of Houston, agreed to pay $50 million.
August 20, 2004 |
Federal regulators are close to settling a lawsuit that accuses Invesco Funds Group and its former chief executive of improper trading in its mutual funds, attorneys for all three parties said. Regulators and representatives of the two defendants have made significant progress and are optimistic the talks will be resolved within 30 days, said Robert Fusfeld, a Securities and Exchange Commission attorney.
July 27, 2004 |
The Securities and Exchange Commission said Monday that it asked a judge for another month to file more charges against money management firm Invesco Funds Group Inc. and a former chief executive. The SEC filed a petition in U.S. District Court in Denver to extend until Aug. 27 an amended complaint against Denver-based Invesco and former Chief Executive Raymond Cunningham. If the petition is denied, the SEC said, it requested a meeting with all involved parties.
December 3, 2003 |
State and federal officials investigating the mutual fund industry filed civil charges against Invesco Funds Group and its chief executive Tuesday, saying the company's top executives allowed dozens of investors to make improper trades. Denver-based Invesco, a popular fund line during the go-go days of the 1990s bull market, is the latest fund company to be formally charged in the 3-month-old fund scandal.
December 2, 2003 |
Securities regulators probing trading abuses in the mutual fund industry are expected to file charges against a unit of Denver-based fund firm Invesco as soon as today, according to a person familiar with the case. Both New York Atty. Gen.