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Capital Group Companies Inc Investor Securities Class Action Lawsuit 12/05/2006

  • If you invested in Capital Group Companies Inc Funds, you might have certain options and should contact the Shareholders Foundation, Inc

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Security

Case Name
Capital Group Companies Shareholder Class Action Lawsuit 12/05/2006
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$0.00

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Summary

January 18, 2013 - The court approved the voluntary dismissal.
October 24, 2012 - The lead plaintiffs filed a notice of voluntary dismissal.

August 4, 2012 - The U.S. Court of Appeals for the Ninth Circuit ordered the judgment of the district court is affirmed in part and vacated in part.

February 24, 2011 - The lead plaintiffs filed another notice of appeal.

February 22, 2011 - The court again granted the defendants' motion to dismiss.

October 13, 2010 - The U.S. Court of Appeals for the Ninth Circuit ordered the judgment of the district court is vacated and the matter is remanded for further proceedings.

June 20, 2008 - The lead plaintiffs filed a notice of appeal.

June 5, 2008 - The court granted the defendants' motion to dismiss in its entirety, with prejudice.

October 26, 2007 - The defendants filed a motion to dismiss.

July 26, 2007 - The lead plaintiffs filed an amended consolidated complaint.

April 6, 2007 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

February 27, 2007 - Another lead plaintiff motion was filed.

February 20, 2007 - A lead plaintiff motion was filed.

January 12, 2007 - Another investor filed a complaint.

December 18, 2006 - An investor in American Funds offered by Capital Group Companies Inc, filed a lawsuit in the U.S. District Court for the Central District of California against Capital Group Companies Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 1, 2000 and March 23, 2005.

The complaint alleges that defendants participated in an illicit kickback scheme which operated to the detriment of investors in the AFD Funds. The complaint further claims defendants actively concealed their use and improperly used hundreds of millions of dollars in assets of the AFD Funds for the payment of illicit incentives and illegal kickbacks to cause broker-dealers to actively promote AFD Funds. Plaintiff further alleges that defendants actively concealed these conflicts of interest involving AFD Funds from plaintiff and other investors, thereby depriving them of necessary information for making investment decisions.

The following is a list of affected AFD Funds:

American Funds Amcap 529 (CAFAX); American Funds Amcap (AMCPX); American Funds American Balanced 529 (CLBAX); American Funds American Balanced (ABALX); American Funds American Hi Inc Tr 529 (CITAX); American Funds American Hi Inc Tr (AHITX); American Funds American Mutual 529 (CMLAX); American Funds American Mutual (AMRMX); American Funds Bond Fund of Amer 529 (CFAAX); American Funds Bond Fund of Amer (ABNDX); American Funds Capital Inc Bldr 529 (CIRAX); American Funds Capital Inc Bldr (CAIBX); American Funds Capital World Bd 529 (CCWAX); American Funds Capital World Bd (CWBFX); American Funds Capital World G/I 529 (CWIAX); American Funds Capital World G/I (CWGIX); American Funds EuroPacific Gr 529 (CEUAX); American Funds EuroPacific Gr (AEPGX); American Funds Fundamental Invs 529 (CFNAX); American Funds Fundamental Invs (ANCFX); American Funds Grth Fund of Amer 529 (CGFAX); American Funds Grth Fund of Amer (AGTHX); American Funds High-Inc Muni Bond (AMHIX); American Funds Inc Fund of Amer 529 (CIMAX); American Funds Inc Fund of Amer (AMECX); American Funds Intm Bd Fd of Amer (AIBAX); American Funds IntmBd Fd of Amer 529 (CBOAX); American Funds Invmt Co of Amer 529 (CICAX); American Funds Invmt Co of Amer (AIVSX); American Funds Ltd-Terrn Tax-Ex Bd (RTXFX); American Funds New Economy 529 (CNGAX); American Funds New Economy (ANEFX); American Funds New Perspective 529 (CNPAX); American Funds New Perspective (ANWPX); American Funds New World 529 (CNWAX); American Funds New World (NEWFX); American Funds Smallcap World 529 (CSPAX); American Funds Smallcap World (SMCWX); American Funds Tax-Exempt Bond (AFTEX); American Funds Tax-Exempt Fund V A; (TFVAX); American Funds Tax-Exempt Fund CA (TAFTX); American Funds US Government See 529 (CGTAX); American Funds Tax-Exempt Fund MD (TMMDX); American Funds US Government Sec (AMUSX); American Funds Washington Mutual 529 (CWMAX); American Funds Washington Mutual (AWSHX)

Date Settled