Ex-worker loses bid for share of Putnam deal
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A state Appeals Court panel yesterday upheld a decision that a former employee of Putnam Investments isn't entitled to a share of the millions of dollars the Boston company paid to settle charges it allowed improper trades in its mutual funds.
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Putnam Investments, which was fired from managing &#36;1.7 billion in Massachusetts pension investments during the mutual fund scandal, is returning as a money manager in its home state after adopting reforms intended to ensure fair trading.
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Putnam Investments will pay $40 million to settle yet another regulatory probe, while corporate parent Marsh &amp; McLennan Cos. yesterday said it would cut 3,000 jobs in the fallout from the price-fixing and bid-rigging scandal enveloping its insurance brokerage unit.
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Q I am retired and 69 years old. I have an IRA account with Putnam, which I opened in May 1993. It has a current value of about $100,000. The account consists of Class A shares in Putnam Voyager fund and another Putnam fund. The expenses of both funds are above average. The returns are below average. I am considering ...
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Aaron M. Feuerstein's ambitions to buy back control of Malden Mills Industries Inc. suffered a blow recently when a major real estate partner said it was no longer interested in continuing a financing agreement.
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Asset manager Putnam Investments on Monday said it planned to cut roughly 100 jobs to be more competitive. Putnam&#39;s corporate parent Marsh &amp; McLennan Cos.
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THE REGION Putnam Investments said Deborah F. Kuenstner, managing director and chief investment officer of the mutual fund firm's Large-Cap Value investment team and International Value team, will leave the company at year-end. Kuenstner has also been an executive board member and management team leader for the $1 billion Putnam Classic Equity fund. Josh Brooks, chief investment officer of the ...
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The company reported a fourth-quarter net loss of $2.58 billion,  citing a $6.1 billion charge related to transferring employees from a multi-employer pension fund.
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Middlesex Superior Court has rejected a bid by Globe Direct, the direct mail subsidiary of The Boston Globe, to block a Wilmington direct mail firm from using information alleged to have been misappropriated by former Globe Direct employees, the Wilmington firm said yesterday.
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The company that owns the Chicago Cubs and The Hartford Courant are battling a former newspaper carrier to get back the last of &#36;301,000 it accidentally gave to him instead of a baseball player with the same name.
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For the second time in less than two months, a prospective buyer of the prime Fan Pier land in South Boston has pulled out of a deal.
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A U.S. court dealt a blow to Johnson &  Johnson  in its $5.5 billion lawsuit over the sale of  Guidant Corp to Boston Scientific Corp , dismissing some  claims and only allowing part of the case to proceed.
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Insurance brokerage Marsh &amp; McLennan Cos., backing away from a February statement that it was committed to keeping its Boston mutual fund division Putnam Investments, yesterday said it was seeking to determine how much Putnam could fetch in the current environment.
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Just as lawyers are preparing to defend Oracle's hostile bid to acquire PeopleSoft, Oracle reduced its all-cash offer for the company from $26 to $21 per share.
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By Mary Ann Milbourn, The Orange County Register, Calif.  Dec. 18--Chipmaker Broadcom Corp. announced today that it cancelled more  than $37 million in stock options for three former employees after finding  that they actively selected the grant dates after the fact.
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Canadian financial services giant Power Financial Corp. yesterday said it will pay $3.9 billion to buy Putnam Investments and keep it intact, a deal that solidifies Boston's position as a mutual fund industry center.
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LONDON  -- Nasdaq Stock Markets Inc.   suffered a resounding defeat in its hostile bid for the London  Stock Exchange  on Saturday, winning just 0.41 pct of  acceptances for its offer for Europe's largest share market.