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Michael S. Dell

T. Rowe to pay investors $194 million over botched Dell vote

T. Rowe to pay investors $194 million over botched Dell vote

T. Rowe Price Group Inc. announced Monday that it will pay up to $194 million into funds affected by the Baltimore mutual fund manager's botched vote on Dell Inc.'s buyout in 2013.

T. Rowe had vocally opposed Dell founder Michael Dell's plan to take the computer company private, but inadvertently backed the deal because of an administrative error. The mistake cost T. Rowe the right to join other investors in suing Dell for a higher price.

A Delaware judge ruled in May that Dell underpaid by about $6 billion when it bought out shareholders in the $25 billion deal.

The payout represents an effort by T. Rowe to make things right with fund investors. Analysts said T. Rowe...

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