This is a securities class action against The Principal Financial Group, who is the successor in interest to the WM funds.
The class action complaint alleges that the WM Funds charge .75% in undisclosed fees to all investors in all its funds. This amounts to hundreds of millions of dollars in undisclosed and unlawful fees. Specifically, the class action complaint alleges that the Funds' relevant prospectuses failed to disclose payments by the Funds' investment advisor to broker/dealers as part of a 'steering' program that compromised broker/dealers' objectivity and created insurmountable, undisclosed conflicts of interest.
Defendant Details
Name (Stock Symbol)
Brief Description
Principal Financial Group, Inc. (PFG)
Principal Financial Group, Inc. provides retirement savings, investment, and insurance products and services.