Fund Directions - Is Evergreen Order A Precursor To Valuation Guidance?

Regulatory Update

Industry Groups

How Boards Work

Trustee Profiles

Special Reports

Expand Buyer's Guides

Expand Rising Stars

PRODUCTS & SERVICES

Corporate Access

CUSTOMER SERVICE

About Fund Directions

Advertising Opportunities

Is Evergreen Order A Precursor To Valuation Guidance?

The Securities and Exchange Commission settled with Evergreen Investments last month over a number of charges that the advisor was misleading investors and overstating the value of its Evergreen Ultra Short Opportunities Fund. Attorneys pointed out to Fund Directions that some points may give a glimpse of what the Commission could include in its long-awaited valuation guidance.

The SEC charged Evergreen with overstating the Ultra Short fund's value by as much as 17% between February 2007 and mid-June 2008. The overstatement was allegedly due to a number of factors, including lack of due diligence in broker quotes and withholding negative information about securities held by the fund. Evergreen agreed to pay more than $40 ...

To read this article, please subscribe or take a free trial.

Subscribe Subscribers have unlimited access to all current content, email alerts and breaking news. Start your subscription today - click on the button below. Subscribe		Free Trial Taking a free trial will give you access to the current issue, email alerts and breaking news for a limited period. Start your free trial today. Free Trial

Already Have An Account? Username: Password: Remember Me