2 MUTUAL FUNDS MOVE TO ASSURE WARY INVESTORS

Article Abstract:

PBGH Funds decided to remove its co-founders Harold J. Baxter and Gary L. Pilgrim after the firm learned that Pilgrim had invested in a private partnership that participated in frequent in-and-out stock trading, better known as market timing, of PBHG Funds from Mar. 2000 until Dec. 2001. Baxter knew the improper trading was happening. Putnam Investments decided to settle its case with the SEC and agreed to new procedures in mutual fund trading. Other state and federal investigations are still pending.

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Tyson Penalized Over Benefits To Ex-Chairman

Article Abstract:

Tyson Foods Inc. will pay a $1.5 million penalty to settle a case brought by the Securities and Exchange Commission regarding misleading disclosures statements about benefits paid to the former chairman of the company, Donald J. Tyson. Mr. Tyson will pay $700,000.

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A Raft of Defendants, Thousands of Victims

Article Abstract:

Executives C. Paul Sandifur Jr., Robert A. Ness, Thomas R. Masters and Thomas G. Turner, have all been charged with fraud after the collapse of the Metropolitan Mortgage and Securities Company left almost 10,000 investors with large losses.

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