CHICAGO, Oct. 10, 2003 (PRIMEZONE) -- Much Shelist Freed Denenberg Ament & Rubenstein, P.C. announces that it has sued Janus Capital Group, Inc. and its Funds in the United States District Court for the District of Colorado. The lawsuit is on behalf of purchasers, redeemers and holders of shares of the Janus Mercury Fund (Nasdaq:JAMRX), Janus Fund (Nasdaq:JANSX), Janus Enterprise Fund (Nasdaq:JAENX), Janus Olympus Fund (Nasdaq:JAOLX), Janus Global Technology Fund (Nasdaq:JAGTX), Janus Orion Fund (Nasdaq:JORNX), Janus Twenty Fund (Nasdaq:JAVLX), Janus Growth and Income Fund (Nasdaq:JAGIX), Janus Special Equity Fund (Nasdaq:JSVAX), Janus Worldwide Fund (Nasdaq:JAWWX), Janus Strategic Value Fund (Nasdaq:PFVAX), and other funds managed by wholly owned subsidiaries of Janus Capital Group Inc. (NYSE:JNS) (collectively, the "Janus Funds'') between October 1, 1998 and July 3, 2003 (the "Class Period'').
In addition to the funds listed above, the following funds are also subject to the above class action lawsuit:
Janus High-Yield Fund (Nasdaq:JAHYX) Janus Venture Fund (Nasdaq:JAVTX) Janus Global Life Sciences Fund (Nasdaq:JAGLX) Janus Global Value Fund (Nasdaq:JGVAX) Janus Overseas Fund (Nasdaq:JAOSX) Janus Balanced Fund (Nasdaq:JABAX) Janus Core Equity Fund (Nasdaq:JAEIX) Janus Risk-Managed Stock Fund (Nasdaq:JRMSX) Janus Mid Cap Value Fund (Nasdaq:JMCVX) (Nasdaq:JMIVX) Janus Small CapValue Fund (Nasdaq:JSCVX) (Nasdaq:JSIVX) Janus Federal Tax-Exempt Fund (Nasdaq:JATEX) Janus Flexible Income Fund (Nasdaq:JAFIX) Janus Short-Term Bond Fund (Nasdaq:JASBX) Janus Money Market Fund (Nasdaq:JAMXX) Janus Government Money Market Fund (Nasdaq:JAGXX) Janus Tax-Exempt Money Market Fund (Nasdaq:JATXX)
If you wish to discuss your rights and interests, or if you have information relevant to the lawsuit, you may contact Carol V. Gilden or Michael E. Moskovitz at Much Shelist Freed Denenberg Ament & Rubenstein, P.C., by calling a toll-free number 1-800-470-6824, or by sending an e-mail to investorhelp@muchshelist.com. Your e-mail should refer to Janus.
The Complaint charges the Janus Mutual Funds, Janus Capital Group and certain of its subsidiaries with violating the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and for common law breach of fiduciary duties in return for substantial fees and other income for themselves and their affiliates. The Complaint alleges that, during the Class Period, the Janus Mutual Funds and the other defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the Janus Mutual Funds. According to the Complaint, the Defendants surreptitiously permitted certain favored investors, including Defendant Canary Capital Partners, LLC and Canary Investment Management, LLC (collectively, "Canary") to engage in "timing" of the Janus Mutual Funds whereby these favored investors were permitted to conduct short-term, "in and out" trading of mutual fund shares, despite explicit restrictions on such activity in the Janus Mutual Funds' prospectuses.
If you purchased Janus 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 November 4, 2003.
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).
Much Shelist's history is one of experience, leadership and results. For more than 25 years, Much Shelist has represented plaintiffs in class action litigation in federal and state courts across the United States. The firm has successfully prosecuted cases involving securities fraud, antitrust violations, consumer fraud, unlawful business practices and insurance company fraud. Under Much Shelist's leadership, class members have obtained judgments and settlements in excess of $4 billion.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca