SEC Close to Settling Invesco Funds Lawsuit
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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.
During a federal court hearing, Fusfeld said they had been working to agree on a dollar figure for payments to investors in talks that have included the SEC, the defendants and other regulatory agencies.
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