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id: 537

Allianz Global Investors U.S. Investors $145M Settlement

S.D. California
Court
22-CV-00747
Case number
01/01/2015
Class period Start
12/31/2020
Class period End
05/08/2023
Claim deadline
Allianz Global Investors U.S. LLC agreed to pay up to $145 million to settle a lawsuit to avoid further litigation.

For question please contact George Scott - [email protected]

The Complaint alleged that Allianz committed securities fraud from 2015 through 2020 through a scheme to defraud prospective and current Mutual Fund investors by making false and misleading statements that substantially understated the risks being taken by the Mutual Funds.

If you are a member of the Settlement Class, you are subject to the Settlement, unless you timely request to be excluded.
The Settlement Class consists of:
Any Person who or which purchased or otherwise acquired an interest in the shares of any Mutual Fund pursuant or traceable to, or whose investments were otherwise solicited through, the Offering Communications, and who or which
(i) purchased those shares prior to February 24, 2020, and sold those shares on or after February 24, 2020, and prior to the respective Mutual Fund’s liquidation date;
(ii) purchased those shares prior to February 24, 2020, and held those shares through the liquidation of the respective Mutual Fund;
(iii) purchased those shares on or after February 24, 2020, and sold those shares prior to the respective Mutual Fund’s liquidation date; or
(iv) purchased those shares on or after February 24, 2020, and held those shares through the liquidation of the respective Mutual Fund, and, in each case, was damaged thereby.

Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Unit (ETF, ETN, Unit)
Trade Direction
Long
Filing date
05/24/2022
Plaintiffs
Emily E. Cole
Attorneys
Arias Sanguinetti Wang & Torrijos, LLP (Los Angeles, CA), Selendy Gay Elsberg PLLC (New York, NY), Silver Golub & Teitell LLP (Stamford, CT)
Defendants
Donald C. Burke, Sarah E. Cogan, Deborah A. DeCotis, F. Ford Drummond, Sidney E. Harris, John R. Mallin, Connie D. McDaniel, Philip McLoughlin, Geraldine M. McNamara, R. Keith Walton, Brian T. Zino, George R. Aylward
Judge
Hon. Michael M. Anello
Administrator
A.B. Data Ltd
Court hearing date
03/09/2023
Exclusion deadline
02/16/2023
Objection deadline
02/16/2023
Trades matching type
FIFO
Disbursement date
07/16/2024
+$145,000,000
Cash Settlement Amount