How much money is CGMI required to pay as part of the settlement?
In compliance with the July 2007 NYSE Hearing Board Decision, CGMI paid $40 million into a distribution fund for the benefit of shareholders of mutual funds who may have been affected by the market timing activity. The $40 million CGMI Distribution Fund came entirely from CGMI. It did not come from the company’s mutual funds or its accountholders. In addition, CGMI is responsible for all costs and expenses associated with the development and implementation of the Distribution Plan.
