I recently received several relatively small checks from several mutual fund companies where I had or have accounts. On the check advices, it states, in part:
"On July 12, 2004, the SEC approved a settlement of an administrative proceeding against [mutual fund] and established a fair fund..." and "You are receiving the attached check because the independent distribution consultant has determined that you are eligible to receive a distribution payment from the [mutual fund] fair fund".
Does anyone know what this is? Is it taxable? Thanks.