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Wednesday June 02, 02:14
PIMCO says New Jersey drops fraud charges

PIMCO said Tuesday that New Jersey’s attorney general has dropped charges alleging that the fixed-income management firm engaged in improper-market timing practices. The Newport Beach, Calif. firm said the charges were dropped after it provided the state with additional information. PIMCO, or Pacific Investment Management Co., said the Securities and Exchange Commission also investigated the matter, but has not been charged.

(CBSMarketWatch.com)
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