Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Fred Alger Management, Inc.
Current Parent CompanyAlger Associates
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $45,000,000
Year: 2007
Date: January 18, 2007
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Violation Description: The New York Attorney General announced a $45 million settlement -- $30 million in restitution, $10 million in penalties and $5 million in fee reductions -- with Fred Alger Management to resolve allegations of unlawful trading of mutual funds through market timing. The restitution and penalty portions of the settlement were negotiated together with the SEC, which issued its own announcement; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: New York Attorney General
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.