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What were the terms of the settlement agreed upon with the SEC?

April 26, 2017agreed sec terms

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What were the terms of the settlement agreed upon with the SEC?

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Under the terms of the settlement: RS Investment Management, Inc., and RS Investment Management, L.P. agreed to pay $11.5 million in disgorgement and $13.5 million in a civil penalty for distribution to affected accountholders. Also, G. Randall Hecht and Steven M. Cohen, former officers of RS Investments, each agreed to pay $150,000 in a civil penalty to the United States Treasury.