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Non-Tech : The Enron Scandal - Unmoderated
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To: Glenn Petersen who wrote (3031)5/20/2004 3:27:50 PM
From: The Duke of URL©  Read Replies (2) of 3602
 
Mr. Strong, who agreed to a lifetime ban from the securities industry, is the highest-ranking executive to be punished in the investigation, started by Attorney General Eliot Spitzer of New York, into the practices of four mutual fund companies.

Through an agreement with the New York attorney general, Strong said this afternoon that it has also agreed to reduce fees charged on its mutual funds by a total of about $35 million over the next five years.

The company added that all costs associated with the settlements will be paid by the management company, not investors in any of Strong's funds.
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