{"id":4458,"date":"2007-06-19T10:39:17","date_gmt":"2007-06-19T10:39:17","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/pbhg_investors_harmed_by_fraud"},"modified":"2022-03-28T14:10:45","modified_gmt":"2022-03-28T19:10:45","slug":"pbhg-investors-harmed-by-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/pbhg-investors-harmed-by-fraud\/","title":{"rendered":"PBHG Investors Harmed By Fraudulent Market Timing To Receive $73 Million"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission says that investors who were affected by the fraudulent market timing in the PBHG Funds will receive $73 million. This is the second of three disbursements to be made from the Pilgrim Baxter Fair Fund. <\/p>\n

Pilgrim Baxter & Associates, Ltd. was the investment adviser for PBHG Funds during the time when the fraudulent market timing took place. By the time the third disbursement is made, 384,000 investors affected by this fraud scheme will have been paid. <\/p>\n

The Fair Fund came about because of the SEC enforcement actions charging the PBHG Funds of “unlawful market timing” by Harold J. Baxter, Gary L. Pilgrim, and Pilgrim Baxter & Associates Ltd. The charges against PBA for allowing certain investors to market time were settled three years ago when PBA agreed to the fine of $90 million in civil penalties and disgorgement (although PBA did not deny or admit guilt). It also agreed to put into place mutual fund governance and compliance reforms. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission says that investors who were affected by the fraudulent market timing in the PBHG Funds will receive $73 million. This is the second of three disbursements to be made from the Pilgrim Baxter Fair Fund. Pilgrim Baxter & Associates, Ltd. was the investment adviser for PBHG Funds during the time […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3749],"tags":[],"class_list":["post-4458","post","type-post","status-publish","format-standard","hentry","category-market-timing"],"yoast_head":"\nPBHG Investors Harmed By Fraudulent Market Timing To Receive $73 Million — Investor Lawyers Blog — June 19, 2007<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission says that investors who were affected by the fraudulent market timing in the PBHG Funds will receive $73 million. — June 19, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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