SEC sues Invesco and CEO Cunningham
Tuesday December 2, 2:32 pm ET
DENVER, Dec 2 (Reuters) - The U.S. Securities and Exchange Commission (News - Websites) filed a lawsuit on Tuesday against Denver-based Invesco Funds, a unit of British-based asset management company Amvescap Plc (London:AVZ.L - News), according to court papers.
The lawsuit also named Invesco Chief Executive Officer Raymond Cunningham.
The lawsuit, filed in federal court in Denver, accused them of engaging in a fraudulent scheme in which they "secretly accepted funds from market timers to enhance the management fee."
If they go bankrupt, like these companies tend to do when they get snagged for this crap, what happens to out "Invesco" field.......can we get Mile High back????????
Tuesday December 2, 2:32 pm ET
DENVER, Dec 2 (Reuters) - The U.S. Securities and Exchange Commission (News - Websites) filed a lawsuit on Tuesday against Denver-based Invesco Funds, a unit of British-based asset management company Amvescap Plc (London:AVZ.L - News), according to court papers.
The lawsuit also named Invesco Chief Executive Officer Raymond Cunningham.
The lawsuit, filed in federal court in Denver, accused them of engaging in a fraudulent scheme in which they "secretly accepted funds from market timers to enhance the management fee."
If they go bankrupt, like these companies tend to do when they get snagged for this crap, what happens to out "Invesco" field.......can we get Mile High back????????
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