The company has lost $100 billion in market value since December, costing investors more than the collapse of Enron did.

The switches cost investors almost $10 million in surrender charges - fees paid for exiting a variable annuity contract early.

Unable to replace them, yesterday the producers canceled the production, costing investors close to $400,000.

Such a performance has cost investors dearly.

They note, too, that arbitration run by the brokerage industry is subsidized by Wall Street and thus costs investors less.

Still, turning down the March offer has cost Reynolds investors.

Federal regulators said the price-manipulation scheme was "the archetype" of deals that cost American investors as much as $22 million in 1956-57.

State regulators say the wireless partnerships often cost investors far more than what the promoters paid for the licenses.

Prosecutors called Towers the largest Ponzi scheme ever when it collapsed, costing investors more than $460 million.

When markets opened for trading on July 5, the company's stock fell nearly 40 percent, costing investors about $12 billion.