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American Century Value Fund Class Action Lawsuit

Company Name
American Century Value Fund
Class Period
November 5, 2018 to Present
Motion Deadline
January 8, 2022
Court
Northern District of California
40 days left to seek lead plaintiff status

Case Summary

The American Century Value Fund class action lawsuit charges American Century Value Fund’s issuer, underwriter and distributor, and investment advisor, as well as its president and directors, with violations of the Securities Act of 1933.  Filed in the Northern District of California on November 5, 2021 and captioned Hays v. American Century Capital Portfolios, Inc., No. 21-cv-08625, the American Century Value Fund class action lawsuit seeks to represent purchasers of American Century Value Fund’s Investor Class (TWVLX), I Class (AVLIX), Y Class (AVUYX), A Class (TWADX), C Class (ACLCX), R Class (AVURX), R5 Class (AVUGX), and R6 Class (AVUDX) shares (the “Shares”) from November 5, 2018 to the present (the “Class Period”). 

If you wish to serve as lead plaintiff of the American Century Value Fund class action lawsuit, please provide your information by clicking here.  You can also contact attorney Michael Albert of Robbins Geller by calling 800/449-4900 or via e-mail at malbert@rgrdlaw.com.  Lead plaintiff motions for the American Century Value Fund class action lawsuit must be filed with the court no later than January 10, 2022.

CASE ALLEGATIONS:  The American Century Value Fund class action lawsuit alleges that the American Century Value Fund’s offering documents and public statements assure investors that its investment strategy is to identify companies whose stock price may not reflect the company’s value, and to purchase the stocks of these undervalued companies and hold each stock until the price has increased to, or is higher than, a level the managers believe more accurately reflects the fair value of the company.  Defendants thus charge the American Century Value Fund substantial fees for this purportedly active management.  Unbeknownst to investors, as the American Century Value Fund class action lawsuit alleges, in managing the Fund, defendants employ an investment strategy designed to closely track the performance of the American Century Value Fund’s stated benchmark index, the Russell 1000 Value index.  This investment strategy is known as “closet indexing.”  As a result, defendants engage in closet indexing to mimic the performance of their designated benchmark index, even while charging excessive fees for purportedly active management.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased American Century Value Fund Shares during the Class Period to seek appointment as lead plaintiff in the American Century Value Fund class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the American Century Value Fund class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the American Century Value Fund class action lawsuit.  An investor’s ability to share in any potential future recovery of the American Century Value Fund class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions.  Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm.

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