As Baltimore's diners disappear, owners shift to remain relevant
Topics

U.S. Securities and Exchange Commission

Dell pay-out helps T. Rowe compensate fund investors

Dell pay-out helps T. Rowe compensate fund investors

T. Rowe Price Group won't have to dip quite as far into its cash reserves to pay out investors affected by the Baltimore investment firm's embarrassing misstep in Dell's 2013 buyout after settling with the computer giant this week.

T. Rowe had opposed the proposed $25 billion Dell buyout for undervaluing the company, but accidentally voted for the deal. The mistake cost the company the right to join other investors in suing for a higher price and cost its fund investors about $200 million, the amount they would have been eligible to collect through the lawsuit.

Earlier this month T. Rowe said it would pay $194 million into funds that had held the firm's 31 million shares of...

79°