Spector, Roseman & Kodroff, P.C. Announces Class Period for Shareholder Class Action Suit on Behalf of Investors in INVESCO Mutu
18 Dezembro 2003 - 3:43PM
PR Newswire (US)
Spector, Roseman & Kodroff, P.C. Announces Class Period for
Shareholder Class Action Suit on Behalf of Investors in INVESCO
Mutual Funds - IMGAX, IDYAX, ITYAX, ISGAX Lead Plaintiff Petitions
Due February 2, 2004 PHILADELPHIA, Dec. 18 /PRNewswire/ -- Spector,
Roseman & Kodroff, P.C. announces that a class action lawsuit
is pending in the United States District Court for the District of
Colorado on behalf of purchasers, redeemers and holders of shares
of the INVESCO Mutual Funds set forth below (the "Funds") between
December 5, 1998 and November 24, 2003, inclusive ("Class Period").
The Funds that are the subject of this suit and their symbols are
as follows: INVESCO Advantage Health Sciences Fund
(NASDAQ:IAGHXNASDAQ:IGHBXNASDAQ:IGHCX) INVESCO Core Equity Fund
(NASDAQ:ICEAXNASDAQ:ICEBXNASDAQ:IINCXNASDAQ:FIIIXNASDAQ:IEIKX)
INVESCO Dynamics Fund
(NASDAQ:IDYAXNASDAQ:IDYBXNASDAQ:IFDCXNASDAQ:FIDYXNASDAQ:IDYKXNASDAQ:IDICX)
INVESCO Energy Fund
(NASDAQ:IENAXNASDAQ:IENBXNASDAQ:IEFCXNASDAQ:FSTEXNASDAQ:IENKX)
INVESCO Financial Services Fund
(NASDAQ:IFSAXNASDAQ:IFSBXNASDAQ:IFSCXNASDAQ:FSFSXNASDAQ: FSFKX)
INVESCO Gold & Precious Metals Fund
(NASDAQ:IGDAXNASDAQ:IGDBXNASDAQ:IGDCXNASDAQ:FGLDX) INVESCO Health
Sciences Fund
(NASDAQ:IAHSXNASDAQ:IBHSXNASDAQ:IHSCXNASDAQ:FHLSXNASDAQ:IHSKX)
INVESCO Leisure Fund
(NASDAQ:ILSAXNASDAQ:ILSBXNASDAQ:IVLCXNASDAQ:FLISXNASDAQ:ILEKX)
INVESCO Mid-Cap Growth Fund
(NASDAQ:IMGAXNASDAQ:IMGBXNASDAQ:IMGCXNASDAQ:IVMIXNASDAQ:PRMIX)
INVESCO Multi-Sector Fund (NASDAQ:IAMSXNASDAQ:IBMSXNASDAQ:ICMSX)
AIM INVESCO S&P 500 Index Fund (NASDAQ:ISPIX) INVESCO Small
Company Growth Fund
(NASDAQ:ISGAXNASDAQ:ISGBXNASDAQ:ISGCXNASDAQ:FIEGXNASDAQ: ISCKX)
INVESCO Technology Fund
(NASDAQ:ITYAXNASDAQ:ITYBXNASDAQ:ITHCXNASDAQ:FTCHXNASDAQ:ITHKXNASDAQ:
FTPIX) INVESCO Total Return Fund
(NASDAQ:IATRXNASDAQ:IBTRXNASDAQ:ITRCXNASDAQ:FSFLX) INVESCO
Utilities Fund (NASDAQ:IAUTXNASDAQ:IBUTXNASDAQ:IUTCXNASDAQ:FSTUX)
INVESCO Advantage Fund (NASDAQ:IADAXNASDAQ:IADBXNASDAQ:IADCX)
INVESCO Balanced Fund
(NASDAQ:IBLAXNASDAQ:IBLBXNASDAQ:IBFIXNASDAQ:IMABXNASDAQ:IBLKX)
INVESCO European Fund
(NASDAQ:IEUAXNASDAQ:IEUBXNASDAQ:IEUCXNASDAQ:FEURXNASDAQ:IEUKX)
INVESCO Growth Fund
(NASDAQ:IAGWXNASDAQ:IBGWXNASDAQ:IBGCXNASDAQ:FLRFXNASDAQ:IGWKX)
INVESCO High-Yield Fund
(NASDAQ:IAHYXNASDAQ:IBHYXNASDAQ:IHYCXNASDAQ:FHYPXNASDAQ:IHYKX)
INVESCO Growth & Income Fund
(NASDAQ:IGIAXNASDAQ:IGIBXNASDAQ:IGRCXNASDAQ:IVGIXNASDAQ:IGIKX)
INVESCO International Blue Chip Value Fund
(NASDAQ:IBVAXNASDAQ:IBVBXNASDAQ:IBVCXNASDAQ: IIBCX) INVESCO Real
Estate Opportunity Fund
(NASDAQ:IAREXNASDAQ:IBREXNASDAQ:IRECXNASDAQ:IVSRX) INVESCO Select
Income Fund
(NASDAQ:IASIXNASDAQ:IBSIXNASDAQ:ISICXNASDAQ:FBDSXNASDAQ:ISIKX)
INVESCO Tax-Free Bond Fund
(NASDAQ:IXBAXNASDAQ:IXBBXNASDAQ:ITFCXNASDAQ:FTIFXNASDAQ:IVTIX)
INVESCO Telecommunications Fund
(NASDAQ:ITLAXNASDAQ:ITLBXNASDAQ:INTCXNASDAQ:ISWCXNASDAQ: ITEKX)
INVESCO U.S. Government Securities Fund
(NASDAQ:IGVAXNASDAQ:IGVBXNASDAQ:IUGCXNASDAQ: FBDGX) INVESCO Value
Fund (NASDAQ:IAVEXNASDAQ:IBVEXNASDAQ:IVACXNASDAQ:FSEQX) The
Complaint charges INVESCO, Amvescap, AIM Management Group, Inc.,
AIM Stock Funds, Inc., INVESCO Stock Funds, Inc., Edward Stern,
Canary Investment Management, LLC, Canary Partners Ltd., Canary
Partners, LLC ("collectively "Canary"), and Doe Defendants with
violating the Securities Act of 1933, the Securities Exchange Act
of 1934, the Investment Company Act of 1940, and with common law
breach of fiduciary duties. Specifically, it is alleged that during
the Class Period, defendants failed to disclose that they
improperly allowed certain favored investors, including Canary and
the Doe defendants, to engage in the "market timing" of their
transactions in the Funds. Market timing is short term, arbitrage
trading that exploits inefficiencies in the way mutual funds are
priced. Market timing injures long-term mutual fund investors, who
are not allowed to engage in such practices, by, among other
things, diluting the profits they would otherwise receive and by
concentrating their losses. According to the Complaint, favored
investors were allowed to market time their transactions despite
specific restrictions on these practices in the prospectuses of the
Funds. If you purchased, held or redeemed the Funds during the
Class Period and if you meet certain other legal requirements, you
may file a motion in the court where the lawsuit has been filed to
serve as a lead plaintiff. You must file your motion no later than
February 2, 2004. A lead plaintiff is a representative party that
acts on behalf of other class members in directing the litigation.
In order to be appointed lead plaintiff, the court must determine
that the class member's claim is typical of the claims of other
class members, and that the class member will adequately represent
the class. Under certain circumstances, one or more class members
may together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. The requirements for serving as a
lead plaintiff are set forth in the Private Securities Litigation
Reform Act of 1995 (15 U.S.C. Section 78u-4). If you have sustained
substantial losses in INVESCO Funds during the Class Period, please
contact Spector, Roseman & Kodroff, P.C. at for a more thorough
explanation of the Lead Plaintiff selection process. If you have
relatively small losses, your ability to participate in any
recovery will be protected by the Lead Plaintiff(s), and you need
take no affirmative steps at this time. If you wish to join this
action, please visit http://www.srk-law.com/dbjoinaclassaction.asp.
If you wish to discuss this action or have any questions concerning
this notice or your rights or interests, please contact plaintiff's
counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail
at . For more detailed information about the firm please visit its
website at http://www.srk-law.com. Spector, Roseman & Kodroff,
P.C., located in Philadelphia, Pennsylvania concentrates its
practice in complex litigation including actions dealing with
securities laws, antitrust, contract and commercial claims. The
firm is active in major litigation pending in federal and state
courts throughout the United States. The firm's reputation for
excellence has been recognized on repeated occasions by courts
which have appointed the firm as lead counsel in numerous major
class actions involving violations of the federal securities laws
and the federal antitrust laws, and consumer fraud. As a result of
the efforts of the firm, and its members, hundreds of millions of
dollars have been recovered on behalf of thousands of defrauded
shareholders and companies. DATASOURCE: Spector, Roseman &
Kodroff, P.C. CONTACT: Robert M. Roseman of Spector, Roseman &
Kodroff, +1-888-844-5862 Web site:
http://www.srk-law.com/dbjoinaclassaction.asp
http://www.srk-law.com/
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