Cauley Geller Bowman & Rudman, LLP announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers of shares of the Scudder Family of Mutual Funds which are managed by Deutsche Bank during the period between January 22, 1999 and January 12, 2004.

The suit lists more than 50 Scudder funds and charges charges Deutsche Bank, Scudder Investments, Deutsche Investment Management Americas Inc., Deutsche Asset Management, Inc., the Fund Registrants, Scudder Funds, and the Doe Defendants with violations of the Securities Act of 1933, the Securities Exchange Act of 1934, among other claims as well as for a breach of fiduciary duties.

The complaint alleges that during the class period the defendants allowed some of its clients to engage in illegal and improper trading practices causing financial losses to shareholders of the Scudder Mutual Funds. 

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