US judge approves Vanguard’s $25m settlement over inflated tax bills

A federal judge has granted preliminary approval to Vanguard Group's $25m settlement of a lawsuit alleging that the mutual fund giant improperly burdened investors with excessive tax bills, reported Reuters. The settlement relates to the company's target-date funds and comes after a previous $40m proposal was rejected. US District Judge John Murphy in Philadelphia deemed the settlement "sufficiently fair, reasonable, and adequate." The initial $40m settlement offer, rejected on 19 May, was turned down b ...