Violation Tracker Individual Record
Company:
Evergreen Investment Management Company LLC
Current Parent Company:
Wells Fargo
Penalty:
$40,000,000
Year:
2009
Date:
June 8, 2009
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
Evergreen Investment Management Company LLC agreed to pay $40 million to settle allegations that it overstated the value of a mutual fund that invested primarily in mortgage-backed securities, and then only selectively telling shareholders about the fund's valuation problems.
Level of Government:
federal
Action Type:
agency action
Agency:
Securities and Exchange Commission
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
California
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source of Data:
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
