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
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)