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Vanguard will pay $6 million to investors hit by big tax bills

A subsidiary of the Vanguard group will pay around $6 million to Massachusetts investors who were hit last year with surprisingly painful tax bills.

Massachusetts securities regulators on Wednesday reached a $6.25 million settlement with Vanguard Marketing Corp., a subsidiary of Vanguard, following an investigation launched this year into changes the Malvern-based financial giant , Pennsylvania, contributed to its target date funds.


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