Wall Street regulators sue Amvescap unit

ELIOT SPITZER, the New York Attorney General, and the SEC filed civil lawsuits against Amvescap’s US unit Invesco Funds and Raymond Cunningham, its chief executive, charging them with allowingnumerous hedge funds to make improper “market timing” trades in mutual funds yesterday. Amvescap said the charges were “not merited” and would be “vigorously contested”.