The investigations of as many as 15 states have been extremely low profile because, unlike New York State and Massachusetts, many of them have laws against the discussion of pending charges.
Some of the same firms named as wrongdoers by New York Attorney General Eliot Spitzer are expected to be hit by similar charges from other states.
But some of the investigations have apparently involved other funds, perhaps spreading the mutual fund scandals into new areas.
New Jersey Attorney General Peter Harvey told Forbes some of the cases being pursued could require restitution to investors. Harvey said his office wants to see if market timing and late trading have enriched mutual fund companies, penalized investors and how the losses can be measured.