The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Law Firm Plans To Sue Janus and Putnam Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 02, 2003

Law Firm Plans To Sue Janus and Putnam

by: Nicole Halsey

In an interesting twist, the law firm Korein Tillery has sued Janus and Putnam seeking restitution for damages to investors caused by managers for failing to use fair value to set fund share prices.

Fox News reports that the company, best known for winning a $10.1 billion dollar verdict against Phillip Morris, claims that if managers employed fair value, market timing would have never occured at the fund firms.

So far, 20 plantiffs have signed on to the case filed earlier this week in Illinois. Korein Tillery plans to seek class action status and damages of more than $50,000 per plaintiff or class member, but not more than $75,000.

George A. Zelcs, a lawyer with the firm, said mutual funds have the means to apply fair value to their assets and their failure to do so amounts to negligence of their fiduciary duties.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use