NU Online News Service, April 8, 2004, 1:19 p.m. EDT – Putnam Investments, Boston, says it has agreed to pay $55 million to settle administrative proceedings with the U.S. Securities and Exchange Commission and Massachusetts securities regulators.[@@]
The settlement agreement includes $5 million in disgorgement and $50 million in penalties, and all of the cash will go to Putnam fund shareholders, Putnam says.