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:
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.
