Action Against Two Funds: New York and...
- Share via
From Times Staff and Wire Reports
Action Against Two Funds: New York and Massachusetts acted to bar sales of First Investors Fund for Income Inc., with assets of $971 million as of June 30, and First Investors High Yield Fund Inc., which then had assets of $640 million. The junk-bond mutual funds, officials alleged, duped 270,000 investors, many of “very modest means,” with tricky sales pitches. First Investors denied the charges.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
