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AP (AP) - _ On Monday, state and federal authorities are expected to announce a civil settlement with Prudential Financial Inc.'s securities unit, according to a published report.
The pact will settle allegations former Prudential brokers helped investors rapidly trade mutual-fund shares, The Wall Street Journal reported in its Web site Friday, citing two people familiar with the situation.
The settlement is expected to be one of the largest resulting from a broad probe of so-called market timing that has rocked the fund industry for the past three years. In 2004, Bank of America agreed to a $675 million deal.
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