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 |
|
Friday, November 30, 2007 Pzena Slapped With Suit Post-IPO Pzena Asset Management has been slapped with a lawsuit in connection with the firm's October IPO. The suit filed in the United States District Court for the Southern District of New York, was field by Baltimore law firm Brower Priven on behalf of Pzena stockholders. The complaint alleges that Pzena and its executives issued materially false and misleading statements that artificially inflated the market price of the firm's securities. Last week, New York law firm Abraham, Fruchter & Twersky filed a suit on behalf of a shareholder alleging that Pzena did not disclose net redemptions in the $8-billion John Hancock Classic Value Fund, which is subadvised by Pzena, at the time of its IPO last month (see " Fund Outflows Trigger a Lawsuit for Pzena," November 26, 2007). Printed from: MFWire.com/story.asp?s=16638 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |