Boston tunnel settlement to cost builders $458 mln
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The lead contractor and consultants on Massachusetts' "Big Dig" roadway project have agreed to pay $458 million to settle an inquiry into defects in the tunnels that led to a fatal accident in 2006, federal and state officials said on Wednesday.
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Mutual-fund adviser Bridgeway Capital Management Inc. and its president, James Montgomery, have agreed to pay almost &#36;5.2 million to settle Securities and Exchange Commission charges of illegally overcharging mutual-fund customers, the regulator said Wednesday.
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The Boston investment firm Adams, Harkness Inc. will pay $575,000 to settle charges that it failed to disclose it was paid by investment banks to write research reports on the banks' underwriting clients, regulators said yesterday. Adams, Harkness also failed to preserve copies of internal e-mails as required by law, they said.
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The family of a woman killed when the ceiling of a Big Dig tunnel collapsed on her car last year has agreed to a $6 million settlement with the company that supplied the epoxy blamed for the accident, attorneys said Monday.
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Two Franklin Templeton Investments units will pay $5 million to settle a Massachusetts complaint alleging the firm allowed a big hedge fund investor to make inappropriate mutual fund trades.
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The $450 million settlement is with regulators who accused the companies of improperly allowing favored investors to rapidly trade in and out of their funds.
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Invesco Funds Group and its sister company agreed yesterday to pay $450 million to settle allegations of improper trading, a deal that will send nearly all the money to investors harmed by the practice.
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Boston Scientific Corp. will pay $16.75 million to settle state investigations into flawed heart defibrillators sold by Guidant Corp. , whose substantial legal liability Boston Scientific inherited when it bought the firm last year for $27 billion.
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Museum Towers, a six-year-old luxury high-rise apartment complex overlooking the Charles River in East Cambridge, sold this week for what is believed to be a record per-unit price in Greater Boston, and will be converted to condominiums ranging from $350,000 to $750,000.
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The Securities and Exchange Commission announced a &#36;140 million settlement Wednesday with a mutual fund adviser to the former FleetBoston Financial Corp. for improper trading, the same day the agency filed civil fraud charges against two former employees of the adviser.
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Invesco Funds Group and its sister company will pay more than &#36;450 million in penalties, restitution and lowered fees to settle allegations they allowed wealthy investors to trade their mutual funds improperly.
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Honeywell International Inc., a maker of aerospace components and heating and ventilation products, said Friday it has reached a settlement with the Massachusetts Turnpike Authority, the agency overseeing Boston&#39;s $14.6 billion Central Artery Tunnel
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Town officials are hoping the state can unearth $1.4 million to help bring sewers to the Medway 495 Business Park. Otherwise, they say, some 250 area jobs may be lost -- not to mention thousands of dollars in annual tax revenue.
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BOSTON -- Boston's Big Dig has sprung a big leak.Twenty years and $14.6 billion after its conception, the most ambitious public works project in the nation -- an unprecedented effort to route an unsightly highway deep beneath the central city and replace it with a green ribbon of parks --...
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James Hardie Industries NV, Australia&#39;s fourth-biggest building materials maker, agreed to cover an estimated A$1.5 billion ($1.1 billion) shortfall in compensation for sufferers of asbestos diseases.
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TRIPOLI, Libya  - Libya signed an agreement to pay a total of &#36;35 million US (&#36;45.4 million Cdn) in compensation for non-U.S. victims of a 1986 Berlin hotel bombing.
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Contractors told the Massachusetts Turnpike Authority of Big Dig tunnel leaks 34 months before MTA admitted knowing, the Boston Globe reports.