FleetBoston Financial Corporation : Columbia Family of Funds

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Copyright (c) 2001
Stanford Law School

FleetBoston Financial Corporation : Columbia Family of Funds Summary: Proceedings against Bank of American, the acquirer of FleetBoston, have been stayed pending settlement discussion and approval. No further actions have been taken as of December 17, 2007.

According to a press release dated August 8, 2006, Bank of America said in its filing Tuesday that it has agreed to pay $9.6 million to settle lawsuits over allegations of improper trading in Columbia mutual funds acquired in the 2004 FleetBoston Financial Corp. acquisition. The settlement requires court approval.

In June 2004, the case first filed in the U.S. District Court for the District of Massachusetts was transferred by the order from the Judicial Panel on Multidistrict Litigation to the District of Maryland and associated under case 04-md-15863.

The Complaint alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, certain of the defendants failed to disclose that they improperly allowed certain favored investors 'timing' of the Funds' securities. Timing is excessive, arbitrage trading undertaken to turn a quick profit and which ordinary investors are told that the funds police. Timing injures ordinary mutual fund investors -- who are not allowed to engage in such practices -- and are acknowledged as improper practices by the Funds. In return for receiving extra fees from favored investors, FleetBoston, Columbia Group, Columbia Management, Columbia Wanger, and Columbia Distributor allowed and facilitated timing activities in the Funds, to the detriment of class members, who paid, dollar for dollar, for improper profits made by privileged investors. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing and that premature redemptions will be assessed a charge.

The Funds, and the symbols for the respective Funds named in the complaint, are as follows:

Columbia Acorn Fund (LACAX, LACBX, LIACX, ACRNX) Columbia Acorn Select (LTFAX, LTFBX, LTFCX, ACTWX) Columbia Acorn USA (LAUAX, LAUBX, LAUCX, AUSAX) Columbia Asset Allocation Fund (LAAAX, LAABX, LAACX, GBAAX, GAAAX, GAATX) Columbia Balanced Fund (CBLAX, CBLBX, CBLCX, CBLDX, CBALX) Columbia Common Stock Fund (CMSAX, CMSBX, CCSCX, CMSDX, CMSTX) Columbia Disciplined Value Fund (LEVAX, LEVBX, LEVCX, GEVBX, GALEX, GEVTX) Columbia Dividend Income Fund (LBSAX, LBSBX, LBSCX, GEQBX, GEQAX, GSFTX) Columbia Growth & Income Fund (CFGAX, CFGBX, CFGDX, LGISX) Columbia Growth Fund (CGWAX, CGWBX, CGWCX, CGWDX, CGWGX, CLMBX) Columbia Growth Stock Fund (CGSAX, CGSBX, CGSCX, SRFSX) Columbia Large Cap Core Fund (LCCAX, LCCBX, LCCCX, GGRBX, SGIEX, SMGIX) Columbia Large Cap Growth Fund (LEGAX, LEGBX, LEGCX, GBEGX, GAEGX, GEGTX) Columbia Large Company Index Fund (LLIAX, LLIBX, LLICX, ILCIX) Columbia Liberty Fund (COLFX, CCFBX, CTCCX, CTCFX) Columbia Mid Cap Growth Fund (CBSAX, CBSBX, CMCCX, CBSDX, CBSGX, CBSTX, CLSPX) Columbia Mid Cap Value Fund (COLGX, COGBX, CSVCX, LSVSX) Columbia Real Estate Equity Fund (CREAX, CREBX, CRECX, CREDX, CREEX) Columbia Small Cap Fund (LSMAX, LSMBX, LSMCX, GBSMX, SSCEX, SMCEX) Columbia Small Cap Growth Fund (CMSCX) Columbia Small Cap Value Fund (CSMIX, CSSBX, CSSCX, CSCZX) Columbia Small Company Equity Fund (LSEAX, LSEBX, LSECX, GERBX, GASEX, GSETX) Columbia Small Company Index Fund (LBIAX, LBIBX, LBICX, ISCIX) Columbia Strategic Investor Fund (CSVAX, CSVBX, CSRCX, CSVDX, CSVFX) Columbia Tax-Managed Aggressive Growth Fund (LTMAX, LTAGX, LTACX, LTAZX) Columbia Tax-Managed Growth Fund (STMAX, CTMBX, CTMCX, LMGZX) Columbia Tax-Managed Growth Fund II (LTGAX, LTIIX, LTGCX, LTGZX) Columbia Tax-Managed Value Fund (SRVAX, CTMVX, LTVCX, LTMZX) Columbia Technology Fund (CTCAX, CTCBX, CTHCX, CTCDX, CMTFX) Columbia Thermostat Fund (CTFAX, CTFBX, CTFDX, COTZX) Columbia Utilities Fund (CUTLX, CUTBX, CUTFX, LUFZX) Columbia Young Investor Fund (LYIAX, LYIBX, LYICX, SRYIX) Columbia Acorn International Fund (LAIAX, LIABX, LAICX, ACINX) Columbia Acorn International Select Fund (LAFAX, LFFBX, LFFCX, ACFFX) Columbia Europe Fund (NEUAX, LNEBX, LNECX, LNEZX) Columbia European Thematic Equity Fund (LSREX) Columbia Global Equity Fund (CGUAX, CGUBX, CGUCX) Columbia Global Thematic Equity Fund LSRGX Columbia International Equity Fund (LIEAX, LIEBX, LIECX, GBIEX, GAIEX, GIETX) Columbia International Stock Fund (CISAX, CISBX, CSKCX, CISDX, CMISX) Columbia Newport Asia Pacific Fund (NWAPX, LNABX, LNACX, LAPSX) Columbia Newport Japan Opportunities Fund (NJOAX, NJOBX, NJOCX, LNJZX) Columbia Newport Greater China Fund (NGCAX, NGCBX, NGCCX, LNGZX) Columbia Newport Tiger Fund (CNTAX, CNTBX, CNTDX, CNTTX, CNTZX) Columbia Contrarian Income Fund (CHINX, LCIBX, LCICX, LCIZX) Columbia Corporate Bond Fund (LBCAX, LBCBX, LBCCX, GCBTX) Columbia Daily Income Company Fund CDIXX Columbia Federal Securities Fund (CFSAX, CFSOX, CFSCX, LFSZX) Columbia Fixed Income Securities Fund (CFIAX, CFIBX, CISCX, CFIDX, CFISX) Columbia Floating Rate Advantage Fund (XSFRX, XSFBX, XLACX, XLAZX) Columbia Floating Rate Fund (XLFAX, XLSBX, XLFCX, XLFZX) Columbia High Yield Fund (CHGAX, CHGBX, CHDCX, CHGDX, CMHYX) Columbia High Yield Opportunity Fund (COLHX, COHBX, CHYCX, LHYZX) Columbia Income Fund (LIIAX, CIOBX, CIOCX, SRINX) Columbia Intermediate Bond Fund (LIBAX, LIBBX, LIBCX, SRBFX) Columbia Intermediate Government Income Fund (LIGAX, LIGBX, LIGCX, GGIBX, GALBX, GIBTX) Columbia Money Market Fund (CMMXX, CMBXX, CMCXX, LMZXX) Columbia Quality Plus Bond Fund (LQPAX, LQPBX, LQPCX, GBHQX, GAHQX, GHQTX) Columbia Short Term Bond Fund (CTBAX, CTBBX, CSHCX, CTBDX, CTBGX, CTBTX, CUGGX) Columbia Strategic Income Fund (COSIX, CLSBX, CLSCX, LSIZX) Columbia US Treasury Index Fund (LUTAX, LUTBX, LUTCX, IUTIX) Columbia California Tax-Exempt Fund (CLMPX, CCABX, CCAOX) Columbia Connecticut Intermediate Municipal Bond (LCTAX, LCTBX, LCTCX, GCBBX, GCBAX, SCTEX) Columbia Connecticut Tax-Exempt Fund (COCTX, CCTBX, CCTCX) Columbia Florida Intermediate Municipal Bond Fund (LFIAX, LFIBX, LFICX, SFTEX) Columbia High Yield Municipal Fund (LHIAX, CHMBX, CHMCX, SRHMX) Columbia Intermediate Tax-Exempt Bond Fund (LITAX, LITBX, LITCX, GIMBX, GIMAX, SETMX) Columbia Managed Municipals Fund (LMMAX, LMMBX, LMMCX, SRMMX) Columbia Massachusetts Intermediate Municipal Bond Fund (LMIAX, LMIBX, LMICX, GMBBX, GMBAX, SEMAX) Columbia Massachusetts Tax-Exempt Fund (COMAX, CMABX, COMCX) Columbia Municipal Money Market Fund (CXMXX, CMNXX, CMXXX, CMZXX) Columbia National Municipal Bond Fund (CNLAX, CNLBX, CNBCX, CNLDX, CLNMX) Columbia New Jersey Intermediate Municipal Bond Fund (LNIAX, LNIBX, LNICX, GNJBX, GNJAX, GNJTX) Columbia New York Intermediate Municipal Bond Fund (LNYAX, LNYBX, LNYCX, GBNYX, GANYX, GNYTX) Columbia New York Tax-Exempt Fund (COLNX, CNYBX, CNYCX) Columbia Oregon Municipal Bond Fund (COEAX, COEBX, CORCX, COEDX, CMBFX) Columbia Pennsylvania Intermediate Municipal Bond Fund (LPIAX, LPIBX, LPICX, GTPAX) Columbia Rhode Island Intermediate Municipal Bond Fund (LRIAX, LRIBX, LRICX, GRBBX, GRBAX, GRITX) Columbia Tax-Exempt Fund (COLTX, CTEBX, COLCX) Columbia Tax-Exempt Insured Fund (CEXIX, CEIBX, CEINX)

INDUSTRY CLASSIFICATION:
SIC Code: 6021
Sector: Financial
Industry: Money Center Banks

COMPANY/ISSUER NAME:	FleetBoston Financial Corporation
COMPANY/ISSUER TICKER:	FBF
COMPANY WEBSITE:	http://www.fleet.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Catherine Dukes, et al. v. FleetBoston Financial Corporation, et al.

COURT: D. Massachusetts	DOCKET NUMBER: 04-CV-10315
JUDGE NAME: Hon. Patti B. Saris
DATE FILED: 02/13/2004	SOURCE: Business Wires
CLASS PERIOD START: 02/13/1999	CLASS PERIOD END: 01/14/2004
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Cauley Geller Bowman Coates & Rudman, LLP (New York) 200 Broadhollow, Suite 406, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, Glancy and Binkow 1801 Avenue of the Stars, suite 311, Los Angeles, CA, 90067 (voice) 310-201-9150, (fax) , info@glancylaw.com Law Offices of Charles J. Piven, P.A. World Trade Center-Baltimore,401 East Pratt Suite 2525, Baltimore, MD, 21202 (voice) 410.332.0030, (fax) , pivenlaw@erols.com Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Moulton & Gans LLP 133 Federal Street, Boston, MA, 2110 (voice) 617.369.7979, (fax) , Murray, Frank & Sailer LLP 275 Madison Ave 34th Flr, New York, NY, 10016 (voice) 212.682.1818, (fax) 212.682.1892, email@murrayfrank.com Spector Roseman & Kodroff (San Diego) 1818 Market Street, Suite 2500, Philadelphia, PA, 19103 (voice) 215.496.0300, (fax) 215.496.6611, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 7

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 02/13/2004
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/23/2004

REFERENCE COMPLAINT

In Re: Janus Capital Group, Inc. : Janus Funds family of funds Securities Litigation

COURT: D. Maryland	DOCKET NUMBER: 04-MD-15863
JUDGE NAME: Hon. J. Frederick Motz
DATE FILED: 09/30/2004	SOURCE: Business Wires
CLASS PERIOD START: 10/01/1998	CLASS PERIOD END: 07/03/2003
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Labaton Sucharow & Rudoff LLP 100 Park Avenue, 12th Floor, New York, NY, 10017 (voice) 212.907.0700 , (fax) 212.818.0477 , info@labaton.com Milberg Weiss Bershad & Schulman LLP (New York) One Pennsylvania Plaza, 49th Floor, New York, NY, 10119 (voice) 212.594.5300, (fax) 212.868.1229, info@milbergweiss.com Schiffrin & Barroway LLP 3 Bala Plaza E, Bala Cynwyd, PA, 19004 (voice) 610.667.7706, (fax) 610.667.7056, info@sbclasslaw.com Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com Wolf Popper, LLP 845 Third Avenue, New York, NY, 10022-6689Ave (voice) 877.370.7703, (fax) 212.486.2093, IRRep@wolfpopper.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 6

DOCUMENTS FOR THE REFERENCE COMPLAINT

Type:		Date on the document:

OTHER DOCUMENTS
Class Action Complaint For Violation Of The Federal Securities Laws
Case Name and/or Number: AB Medical Equipment Corporation
Type: Complaint		Date on the document: 02/20/2004
U.S. District Court Civil Docket
Case Name and/or Number: Caprio, et al. v. Columbia Acorn Fund, et al.
Type: Docket		Date on the document: 06/24/2004

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