Case Page


Case Status:    DISMISSED    
On or around 09/16/2011 (Trial Verdict)

Filing Date: July 15, 2004

Originally filed on July 15, 2004, related cases were consolidated and a consolidated complaint was first filed on March 28, 2005. The complaints allege that defendants engaged in an illegal kickback scheme with several brokers/dealers financed by fees and costs paid by plaintiffs and other class members who purchased American Funds mutual funds. The named funds filed a motion to dismiss on May 27, 2005 and the named individuals filed their respective motion on May 31. On December 6, 2005 the judge entered an order dismissing certain aspects of the complaint, including all named director defendants, specific claims and the named funds of which plaintiffs had no ownership. The plaintiffs were given leave to amend their complaint, which they did and re-filed a Second Consolidated Complaint on February 16, 2006. Again the various funds and individuals filed motions to dismiss on April 28, 2006. Discovery was stayed while both sides argued the matter of dismissal. An order was finally entered on January 17, 2007 dismissing the Section 48(a) claim in addition to the Section 1 of the Sherman Act and the Cartwright Act claims. Plaintiffs filed a Third Consolidated Complaint on January 30, 2007. Plaintiffs filed a Fourth Amended Complaint on May 16, 2008. The parties soon after engaged in discovery and preliminary trial proceedings. On July 28, 2009, the first day of court trial was held before Judge Gary A. Feess.

According to the Judgment After Court Trial entered on January 13, 2010, Judgment is entered for the Defendants. Plaintiffs take nothing on their claims against Defendants; and Defendants are the prevailing parties and recover from Plaintiffs the costs of suit in an amount to be taxed by the Clerk. The case has been terminated.

On February 11, 2010, the plaintiff filed a Notice of Appeal. On September 20, 2011, the Court entered Mandate from the Ninth Circuit Court of Appeals, affirming the Judgment of the District Court.


Sector: Financial
Industry: Other (Mutual Fund)
Headquarters: United States


Ticker Symbol:
Company Market: ETF
Market Status: Privately Held

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 04-CV-05593
JUDGE: Hon. R. Gary Klausner
DATE FILED: 07/15/2004
CLASS PERIOD END: 01/09/2004
  1. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 ·
  2. Milberg Weiss Bershad & Schulman LLP
    355 South Grand Avenue, Suite 4170, Milberg Weiss Bershad & Schulman LLP , CA 90071
    213.617.9007 213.617.9185 ·
  3. Seeger Weiss LLP (New York)
    One William Street, Seeger Weiss LLP (New York), NY 10004
    212.584.0700 ·
  4. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  5. Weiss & Lurie (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Lurie (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 ·
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 04-CV-05593
JUDGE: Hon. R. Gary Klausner
DATE FILED: 05/16/2008
CLASS PERIOD END: 07/15/2004
  1. Milberg LLP (Los Angeles)
    300 South Grand Avenue, Suite 3900, Milberg LLP (Los Angeles), CA 90071
    213.617.1200 213.617.1200 ·
  2. Milberg LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg LLP (New York), NY 10119
    1.877.692.1965 ·
  3. Weiss & Lurie (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Lurie (New York, NY), NY 10126
    212.682.3025 212.682.3010 ·
No Document Title Filing Date
No Document Title Filing Date