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Judge Rejects Vanguard $40M Mutual Fund Settlement
A federal judge on Monday rejected Vanguard Group’s $40 million settlement with investors who claimed the mutual fund giant stuck them with inflated tax bills in its popular target-date funds. U.S. District Judge John Murphy in Philadelphia said the proposed class action settlement announced in November “provides no value” to investors because Vanguard could have offset the $40 million from its similar, larger settlement in January with the U.S.…
Judge Nixes Vanguard’s $40M Deal, Slams Class Attorneys’ $13M Cut - USA Herald
A Pennsylvania federal judge has thrown out a $40 million proposed class settlement between Vanguard and investors, ruling the deal would leave the class worse off than a separate agreement already secured by the U.S. Securities and Exchange Commission. U.S. District Judge John F. Murphy said Monday the class settlement was not "fair, reasonable, and
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