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Mutual Fund LossesInvestors who had money in certain funds are now investigating possible lawsuits alleging that their financial advisors did not look out for their best interests. They claim that their money was put in mutual funds that lost value because the advisors were not looking out for their clients as is the advisors' fiduciary duty.
MUTUAL FUND LOSSES IN THE NEWS
Mutual Fund LossesThere are many mutual funds at issue, as many funds have lost money in recent times. These include Neuberger Berman funds, Causeway funds, certain ING Funds and Fidelity Funds. Currently, law firms are either actively investigating or considering and investigation of, each of these families of funds.
One set of funds, the Neuberger Berman funds, will likely be affected by the upcoming sale of Neuberger Berman. Neuberger Berman was purchased by Lehman Brothers in 2003 for $2.6 billion with a present value estimated at somewhere between $7 billion up to $13 billion. Lehman currently has 21 mutual funds sold under the Neuberger brand and has announced its plan to sell off a stake in its investment business, which includes Neuberger Berman. Investors in any of the following funds may be eligible to join a lawsuit: Neuberger Berman International Portfolio Neuberger Berman Neuberger Berman Advisers Management Trust Neuberger Berman International Institutional Fund Neuberger Berman International Fund Another fund in question is a Causeway Capital Management Trust fund, which saw a massive drop in value. Causeway Capital Management LLC offers investment management services to a variety of clients, including pension plans, mutual funds and public retirement plans. Investors with money in the Causeway Capital Management Trust Causeway International Value Fund may be eligible to join a lawsuit alleging that financial advisors did not act in their best interests with regard to the fund. The fund was closed to many new investors between February 28, 2005 and February 1, 2008. Other funds either currently under investigation or facing a possible investigation include: American Century World Mutual Funds, Inc: International Discovery Fund ING: ING International SmallCap Fund and related funds, including ING Global Advantage and Premium Opportunity Fund ING: ING VP Index Plus International Equity Portfolio ING: ING Disciplined International SmallCap Fund Fidelity: Growth Opportunities Fund Class A, T, B, C, Institutional Class Fidelity: Diversified, International Fund, A, T, C, C, Institutional Class Fidelity: Fidelity Small Cap Independence Fund Fidelity: Fidelity Large Cap Stock Fund Fidelity: Spartan International Index Fund Fidelity: Fidelity Growth & Income II Portfolio Fidelity: Aggressive International Fund Fidelity: Fidelity Europe Capital Appreciation Fund Fidelity: Global Balanced Fidelity: Fidelity International Small Cap Fund Fidelity: Fidelity Advisor International Fidelity: Fidelity Variable Insurance Products: Growth Opportunities Portfolio Fidelity: Fidelity Variable Insurance Products: Growth & Income Portfolio In order to be eligible to join a lawsuit, you must currently be a shareholder in one of the mutual funds in question and must have been a shareholder at the time of the wrongdoing. Some mutual funds began experiencing losses as early as mid-2006. Mutual Fund Losses Legal HelpIf you or a loved one has suffered from Mutual Fund Losses, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.Posted on Oct-20-08 Updated on Dec-30-08 |
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Washington, DC: A few years ago former CBS News anchor Dan Rather ended his final newscast with a thought that centered on the word 'courage.' We certainly need that today, with mutual fund losses stacking into the billions. Americans are justifiably concerned over the status of their mutual funds as it relates to their retirement, and the potential for mutual fund ERISA mismanagement have many investors running to their lawyers. [ 
Spokane, WA: So, you've spent the past few months watching your mutual funds decline in value, wondering what you should do next. You counted on your funds to get you through the tough times, or at least to get you through retirement, and the sudden mutual fund losses have hit you hard. On top of that, your other investments are dropping (if you have other investments) and everyone is in a panic over what to do about the situation. [ 
Minneapolis, MN: Bruce P (not his real name) is angry about his mutual funds. He says they have not been managed in the way they should have been, causing them to drop in value and allowing someone unauthorized to withdraw funds. Bruce's mutual fund losses may be the result of someone's negligence and not the result of normal market fluctuations. Luckily, there may be action Bruce can take to recover lost funds. [ © 2001-2009 Online Legal Marketing. All rights reserved.