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T. Rowe Price to recover $100 mln from insurance after voting error

Reuters

BOSTON, Jan 20 (Reuters) - Fund manager T. Rowe Price Group said in a securities filing this month it has entered an insurance agreement to recover $100 million after it made a voting error in the 2013 buyout of Dell Inc.

T. Rowe Price of Baltimore said in the filing dated January 4 that it has recognized the insurance recovery in its fourth-quarter results, to be reported next week, as an offset to a $166 million operating charge it took in the second quarter.

(Reporting by Ross Kerber; Editing by Chizu Nomiyama)