Thursday, June 01, 2006
Class Actions Target Alleged Mutual Fund Steering By AIG Advisers
Lawsuits seeking class-action status on behalf of buyers of Scudder and WM mutual funds target the AIG Advisor Group for allegedly failing to disclose incentives that led sales personnel to market the funds aggressively.
The two complaints — both filed in U.S. District Court in Manhattan by Radnor, Pa.-based law firm Schiffrin & Barroway — each accuse American International Group Inc. and its affiliates of steering clients to a limited number of shelf-space funds on the basis of financial incentives provided by the funds to AIG’s financial advisers.
Class Actions Target Alleged Mutual Fund Steering By AIG Advisers
Source: A.M. Best (subscription required)
The two complaints — both filed in U.S. District Court in Manhattan by Radnor, Pa.-based law firm Schiffrin & Barroway — each accuse American International Group Inc. and its affiliates of steering clients to a limited number of shelf-space funds on the basis of financial incentives provided by the funds to AIG’s financial advisers.
Class Actions Target Alleged Mutual Fund Steering By AIG Advisers
Source: A.M. Best (subscription required)
Permalink posted by armandn @ 8:03 AM 
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