MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, November 26, 2007 Fund Outflows Trigger a Lawsuit for Pzena A shareholder has sued New-York-based Pzena Investment Management, claiming that the company failed to disclose big outflows in a fund it sub-advised when it filed for an IPO last month. Reuters reports that New York law firm Abraham, Fruchter & Twersky is seeking class-action status. The suit stems from net redemptions in the $8 billion John Hancock Classic Value Fund, which is sub-advised by Pzena, the disclosure of this fact on November 16 led to a stock price slide that allegedly harmed plaintiff Esther Lowinger. Printed from: MFWire.com/story.asp?s=16561 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |