Search By:
Products
Injury
Topic
Company
Industry
Mutual funds may charge unlawful and excessive fees.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Excessive or Unauthorized Fees
- Investments
- Undisclosed Fees By Investment Advisors
Product or Service
- Mutual Funds
Injury Type
- Monetary Loss
Investigation Details
Investigation and potential class action lawsuit centering on certain sales practices involving mutual funds sold through the recommendations of investment professionals - including brokers, financial advisors, investment representatives inside a bank, or anyone else in the business of assisting people with their investments.
Due to some recent developments, certain types of fees and other charges frequently imposed on mutual fund accounts sold through investment professionals may be excessive and unlawful. Those fees and charges can add up over time to siphon off large amounts of investors' account values. Some of the mutual fund families that focus on making these types of sales to investors are: Franklin Templeton, Oppenheimer, BlackRock, PIMCO, Hartford, Ivy, Eaton Vance, MFS, First Eagle, Davis, Evergreen, Calmos, Van Kampen, Columbia, Lord Abbett, Loomis Sayles, Legg Mason, AllianceBernstein, Thornburg, Transamerica, Putnam, Russell, Allianz, and AIM.
Due to some recent developments, certain types of fees and other charges frequently imposed on mutual fund accounts sold through investment professionals may be excessive and unlawful. Those fees and charges can add up over time to siphon off large amounts of investors' account values. Some of the mutual fund families that focus on making these types of sales to investors are: Franklin Templeton, Oppenheimer, BlackRock, PIMCO, Hartford, Ivy, Eaton Vance, MFS, First Eagle, Davis, Evergreen, Calmos, Van Kampen, Columbia, Lord Abbett, Loomis Sayles, Legg Mason, AllianceBernstein, Thornburg, Transamerica, Putnam, Russell, Allianz, and AIM.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Hartford Financial Services Group (HIG) | Hartford Financial Services Group is a large insurance company and financial services company. Its subsidiaries include American Maturity Life Insurance Company; First State Insurance Company; Hartford Accident and Indemnity Company; Hartford Administrative Services Company; Hartford Casualty Insurance Company; Hartford Equity Sales Company, Inc.; Hartford Fire Insurance Company; Hartford Fire, General Agency, Inc.; Hartford HLS Series Fund II, Inc.; Hartford Insurance Company of Illinois; Hartford Insurance Company of the Midwest; Hartford Insurance Company of the Southeast; Hartford International Life Reassurance Corporation; Hartford Investment Advisory Company, LLC; Hartford Investment Financial Services, LLC; Hartford Investment Management Company; Hartford Life and Accident Insurance Company; Hartford Life and Annuity Insurance Company; Hartford Life Insurance Company; Hartford Lloyd’s Insurance Company; Hartford Mezzanine Investors I, LLC; Hartford Retirement Services, LLC ; Hartford Securities Distribution Company, Inc.; Hartford Series Fund, Inc.; Hartford Specialty Company; Hartford Specialty Insurance Services of Texas, LLC; Hartford Underwriters Insurance Company; Hartford-Comprehensive Employee Benefit Service Company; HL Investment Advisors, LLC; Hartford Life Private Placement, LLC; M-CAP Insurance Agency, LLC; New England Insurance Company; Nutmeg Insurance Agency, Inc.; Nutmeg Insurance Company; Pacific Insurance Company, Limited; Planco, LLC; Planco Financial Services, LLC; Property and Casualty Insurance Company of Hartford; Sentinel Insurance Company, Ltd.; Specialty Risk Services, LLC.; The Hartford Income Shares Fund, Inc.; The Hartford Mutual Funds II, Inc.; The Hartford Mutual Funds, Inc.; Trumbull Insurance Company; Trumbull Services, L.L.C.; Twin City Fire Insurance Company; Woodbury Financial Services, Inc. |
| Franklin Templeton INvestments | Franklin Templeton Investments is the dba for Franklin Resources, Inc. which operates as an asset management company. |
| Columbia Management Group | Columbia Management Group Inc. was a former asset manager and investment advisor with FleetBank Financial. |
| Franklin Resources, Inc. (BEN) | Franklin Resources, Inc., doing business as Franklin Templeton Investments, operates as an asset management company. |
| MFS Investment Management | MFS Investment Management is a financial services firm most known for its family of mutual funds. |
| Evergreen Investment Management Company | Evergreen Investment Management Company is a premier asset management firm providing individual and institutional investors with a broad range of investment products and asset management solutions. It operates its own family of open and closed ended mutual funds. |
| Lord, Abbett & Co. LLC | Lord, Abbett & Co. LLC is an asset manager and investment advisor, which sponsors its own family of mutual funds. |
| PIMCO | PIMCO is an investment management firm with more than $747 billion in assets under management as of December 31, 2008. |
| Eaton Vance Corporation (EV) | Eaton Vance is a financial services firms with a focus on asset management. |
| First Eagle Funds | The First Eagle Funds are offered by First Eagle Funds Distributors, a division of ASB Securities LLC. The First Eagle family of funds includes Global Fund, Gold Fund, Overseas Fund, U.S. Value Fund and First Eagle Fund of America. |
| Van Kampen Funds, Inc. | Van Kampen Funds, Inc. is an asset manager that operates a series of mutual funds. |
| Loomis, Sayles & Company | Loomis, Sayles & Company is an investment adivosr and asset manager with its own sponsored family of mutual funds. Loomis Sayles is an indirect, wholly owned subsidiary of Natixis Global Asset Management, L.P., which is part of Natixis Global Asset Management. |
| Legg Mason, Inc. (LM) | Legg Mason, Inc., through its subsidiaries, provides investment management and related financial services to institutional and individual clients, company-sponsored mutual funds, and other investment vehicles. |
| AllianceBernstein | AllianceBernstein is a investment management firm with $395 billion dollars under management. AXA Financial owns a majority interest in AllianceBernstein. AXA Financial is a wholly owned subsidiary of AXA, one of the largest global financial services organizations. |
| Transamerica Corporation | Transamerica Corporation, through subsidiaries, sells insurance and financial products. It is wholly owned by the Aegon Group. |
| Putnam Investments | Putnam Investments manages a family of mutual funds. |
| Russell Investments | Russell Investments, through affiliates and subsidiaries, owns, operates and manages the Russell family of mutual funds. |
| Allianz Group (AZ) | The Allianz Group provides insurance, banking and asset management services globally. It employees 153,000 people worldwide, It has approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence. In fiscal 2008 the Allianz Group achieved total revenues of over 92.5 billion euros. Allianz is also one of the world’s largest asset managers, with third-party assets of 703 billion euros under management at year-end 2008. Allianz SE is the parent company of Allianz Group. |
| Invesco Aim Management Group, Inc | Invesco Aim Management Group, Inc., through subsidiaries and affiliates, owns and operates the Invesco Aim family of mutual funds. |