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Violation Tracker Individual Record

Company: Pilgrim Baxter & Associates, Ltd.
Penalty: $90,000,000
Year: 2004
Date: June 21, 2004
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: Pilgrim Baxter agreed to pay $90 million to settle allegations that it violated the federal securities laws by, among other things, permitting a select group of investors to trade rapidly in and out of the PBHG Funds, reaping profits and diluting the value of the funds to the detriment of long-term investors.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.