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SEC fines Vanguard Advisors failing to properly disclose financial incentives tied to its PAS
@TheShadow : Thanks for that info. Will the investors receive any damages? Heck I'm still waiting for damages for Vanguards screw up with TDF a few years back. Enjoy your weekend, Derf
Respondent [Vanguard] shall distribute from the Fair Fund to each client that enrolled in PAS during the Relevant Period an amount representing that client’s pro rata share of advisory fees paid, plus reasonable interest from any remaining funds, pursuant to a disbursement calculation (the “Calculation”) that will be submitted to, reviewed, and approved by the Commission staff in accordance with this Subsection C.
Regarding your TDF claim, you'll get your money after the case is settled. Of course that assumes that you owned a retail TDF in a taxable account.
I posted in some other thread something like:
On May 19, 2025, the United States District Court for the Eastern District of Pennsylvania (the “Court”) denied final approval of a $40 million proposed settlement in a major class action lawsuit against The Vanguard Group, Inc. (“Vanguard”) and related parties (“Defendants”).
They [Vanguard and investors] plan by September 22 to seek preliminary approval of the settlement from U.S. District Judge John Murphy, who rejected a $40 million accord on May 19.
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Enjoy your weekend, Derf
I posted in some other thread something like: https://www.ropesgray.com/en/insights/alerts/2025/07/district-court-strikes-down-40-million-settlement-agreement-in-target-date-funds-case-based
Since then, https://www.reuters.com/sustainability/boards-policy-regulation/vanguard-settles-litigation-over-inflated-mutual-fund-tax-bills-2025-08-07/
Have a good weekend, Derf