T. Rowe Price profits fall in 2Q as company takes hit on Dell settlement

T. Rowe Price Group Inc. reported a $195.3 million profit in the second quarter, a 41 percent drop attributed in part to a $166.2 million charge related to a settlement with investors over Dell’s buyout. T. Rowe — in what was considered a rare move — agreed to compensate fund investors when the Baltimore investment firm accidentally voted in favor of the 2013 buyout of Dell in what was considered a proxy-voting mistake. The nonrecurring charge reduced net income in the second quarter by $100.7…

from http://www.bizjournals.com/baltimore/news/2016/07/26/t-rowe-price-profits-fall-in-2q-as-company-takes.html?ana=RSS%26s=article_search
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