Some of the market-timing claims against Janus Capital Group in a class-action lawsuit brought by its mutual fund shareholders have been dismissed by a U.S. District Court judge in Baltimore. Plaintiffs are "entitled to no further recovery" if previous settlements provide full restitution to those that were harmed, U.S. District Judge J. Frederick Motz ruled Thursday. As a result of settlements reached in 2004 with the SEC and the state of Colorado, Janus put $100 million into escrow to compensate potentially affected shareholders, John Bluher, Janus general counsel, said in a statement. "This ruling is a very positive signal from the federal courts," he said.
Some of the market-timing claims against Janus Capital Group in a...