
The New York Attorney General announced a $75 million settlement -- $50 million in restitution and $25 million in fee reductions -- with Waddell & Reed to resolve allegations of unlawful trading of mutual funds through market timing. The $50 million portion of the settlement was negotiated together with the SEC, which issued its own announcement; ]For more info visit https://web.archive.org/web/20101111170549/http://www.ag.ny.gov/media_center/2006/jul/jul24a_06.html