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Altaire4_2dot0

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Altaire4_2dot0

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Saturday, 11/20/2004 1:42:45 AM

Saturday, November 20, 2004 1:42:45 AM

Post# of 147390
OT: 325 Million AIM Invesco Scandal

Invesco, AIM funds settlement is one of biggest

By SANDY SHORE
AP Business Writer
Published on: 09/08/04

DENVER — Invesco Funds Group and its sister company will pay more than $450 million in penalties, restitution and lowered fees to settle allegations they allowed wealthy investors to trade their mutual funds improperly.

Under the settlement, Denver-based Invesco will pay $325 million to resolve litigation alleging it permitted excessive market-timing in its funds. Its sister company, AIM Advisors Inc. of Houston, agreed to pay $50 million.

http://www.ajc.com/money/content/money/0904/08invesco.html

"The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn." ~ Alvin Toffler

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