For an internal investigation, Cornerstone Research assessed bond holding valuations and calculated the impact on mutual fund shareholders. Retained by counsel for the boards of directors of several mutual funds For an internal investigation on behalf of a large mutual fund complex, Cornerstone Research assessed the fund management company’s historical fair-value pricing of illiquid municipal bonds. Based on our analysis of bond characteristics and contemporaneous market data, the fund management company recalculated the fair value of the bonds. Cornerstone Research recalculated the net asset values of several mutual funds over a multiyear period. Following this revaluation, Cornerstone Research recalculated the net asset values of several mutual funds over a multiyear period. We then dete

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