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AGI.FI
id: 537, Created by Stan Vick Chase, Scout

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

Settled
01 January 2015
Class period Start
31 December 2020
Class period End
08 May 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.

Alleged Offence
Other
Suspected Party
Other
Security Type
Unit (ETF, ETN, Unit)
Trade Direction
Long
Case number
22-CV-00747
Filing date
24 May 2022
Lead plaintiff
Emily E. Cole
Attorney
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
Court
Southern District of California
Judge
Hon. Michael M. Anello
Administrator
A.B. Data Ltd
Court hearing date
09 March 2023
Exclusion deadline
16 February 2023
Objection deadline
16 February 2023
+$145,000,000
Total Settlement Amount
Created by Stan Vick Chase, Scout

Allianz Global Investors U.S. LLC

Allianz Global Investors US LLC operates as an investment firm. The Company provides portfolio management and advisory services. Allianz Global Investors individuals, corporations, public pension a...

    Ticker
    AGI.FI
    CIK
    0001493338
    Sector
    Financial Services
    Industry
    Asset Management
    Country
    US
    Address
    1633 Broadway New York, NY 10019 United States