has agreed to settle a consolidated lawsuit over market timing with investors and pension funds for an undisclosed sum, reports Bloomberg
Both the Boston-based fund arm of Canadian insurer Sun Life Financial
and Bank One
, part of JPMorgan Chase
, have stated in court papers their intention to resolve all pending class-action claims against them. The lead plaintiff in the consolidated suit -- presided over by U.S. District Judge J. Frederick Motz in Baltimore -- is the City of Chicago Deferred Compensation Plan.
In 2004, MFS paid $351 million to the SEC over market timing charges.
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