- Few Southeast students face suspension, expulsion for sexual assaults, campus paper finds (4/25/17)5
- Perryville family organizing bone-marrow drive Friday for ailing 6-year-old boy (4/26/17)
- Woman battered after smashing boyfriend's meth pipe against wall, police say (4/25/17)1
- Pilot House goes smoke-free (4/23/17)10
- Temptations bassist dies after Cape Girardeau show (4/26/17)2
- Event includes the first public tour of 200-year-old Elmwood Manor (4/23/17)3
- BBB warns Jackson man's online business might not be legit (4/24/17)
- Cape couple turns their home into cozy, comfortable music venue (4/24/17)
- Cape councilman Bob Fox to run for mayor (4/21/17)5
- Sikeston man charged in shooting death of Cape man (4/23/17)
Mutual fund firm agrees to $600 million settlement
NEW YORK -- Alliance Capital Management agreed Thursday to a $600 million settlement, including a 20 percent reduction in its fund fees for the next five years, to resolve federal and state accusations it permitted improper trading of its mutual funds.
An agreement jointly negotiated by the Securities and Exchange Commission and New York Attorney General Eliot Spitzer calls for the company to pay $250 million in restitution and take new steps to improve its corporate governance and prevent trading abuses. The payment is the largest ever by a mutual fund adviser, the SEC said. Separately, Spitzer's settlement also requires Alliance to reduce its fees by 20 percent.