The Top SEC Settlements of 2011

By Joel Stonington - 2012-01-03T23:18:44Z

Photograph by Frederico Gambarni/EPA/Landov

Company Symbol % Change
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No. 14: AXA Rosenberg Group, AXA Rosenberg Investment Management, and Barr Rosenberg Research Center

<strong>Total Settlement:</strong> $25 million<br /><strong>Disgorgement:</strong> 0<br /><strong>Penalty:</strong> $25 million

The <a href="http://sec.gov/news/press/2011/2011-37.htm">SEC alleged</a> that a computer error at three AXA Rosenberg entities caused $217 million in investor losses and was covered up by co-founder Barr M. Rosenberg. The companies agreed to repay the $217 million along with a $25 million penalty. Rosenberg himself agreed to <a href="http://www.sec.gov/news/press/2011/2011-189.htm">pay the SEC</a> $2.5 million and be banished from the securities industry. His attorney, Jonathan Bass, said no criminal charges were filed in the case.</p>

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