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Calvert Investments settles with SEC over mispriced bonds

Oct 18 Calvert Investments said on Tuesday it overstated the value of some of its mutual funds for several years and agreed to settle the case with the U.S. Securities and Exchange Commission.

Calvert said it would pay a $3.9 million civil penalty and reimburse affected shareholders as part of the settlement.

Between March 18, 2008 and Oct. 18, 2011, Calvert misvalued bonds that caused funds to have the wrong net asset value. As a result, performance figures were incorrect and Calvert collected inflated management fees, the company said in a statement. (Reporting By Tim McLaughlin; Editing by Bill Rigby)

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