Market Timing Violations
On September 19, 2007, the United States Securities and Exchange Commission (SEC) announced that Evergreen Investments and affiliates would pay $32.5 million to settle market timing violations. Evergreen allowed some of its shareholders to market time trades, in violation of Evergreen's prospectus. William M. Ennis, a former officer of Evergreen paid $1 in disgorgement plus a civil penalty of $150,000.
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Famous quotes containing the words market, timing and/or violations:
“Talk of a divinity in man! Look at the teamster on the highway, wending to market by day or night; does any divinity stir within him? His highest duty to fodder and water his horses! What is his destiny to him compared with the shipping interests?”
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