NEW YORK, Dec. 16, 2003 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Rudman, LLP announced today that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of all purchasers of shares of INVESCO Mutual Funds (the "INVESCO Mutual Funds") managed by Invesco Funds Group, Inc. ("Invesco" or the "Company"), which is a subsidiary of Amvescap PLC ("Amvescap") (NYSE:AVZ), during the period between December 5, 1998 and November 24, 2003, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.cauleygeller.com/show_case.asp?ccode=203&pcode=10&pp=4.
The Funds, and the symbols for the respective Funds named below, are as follows:
INVESCO Advantage Health Sciences Fund (Nasdaq:IAGHX; Nasdaq:IGHBX; Nasdaq:IGHCX)
INVESCO Core Equity Fund (Nasdaq:ICEAX; Nasdaq:ICEBX; Nasdaq:IINCX; Nasdaq:FIIIX; Nasdaq:IEIKX)
INVESCO Dynamics Fund (Nasdaq:IDYAX; Nasdaq:IDYBX; Nasdaq:IFDCX; Nasdaq:FIDYX; Nasdaq:IDYKX; Nasdaq:IDICX)
INVESCO Energy Fund (Nasdaq:IENAX; Nasdaq:IENBX; Nasdaq:IEFCX; Nasdaq:FSTEX; Nasdaq:IENKX)
INVESCO Financial Services Fund (Nasdaq:IFSAX; Nasdaq:IFSBX; Nasdaq:IFSCX; Nasdaq:FSFSX; Nasdaq:FSFKX)
INVESCO Gold & Precious Metals Fund (Nasdaq:IGDAX; Nasdaq:IGDBX; Nasdaq:IGDCX; Nasdaq:FGLDX)
INVESCO Health Sciences Fund (Nasdaq:IAHSX; Nasdaq:IBHSX; Nasdaq:IHSCX; Nasdaq:FHLSX; Nasdaq:IHSKX)
INVESCO Leisure Fund (Nasdaq:ILSAX; Nasdaq:ILSBX; Nasdaq:IVLCX; Nasdaq:FLISX; Nasdaq:ILEKX)
INVESCO Mid Cap Growth Fund (Nasdaq:IMGAX; Nasdaq:IMGBX; Nasdaq:IMGCX; Nasdaq:IVMIX; Nasdaq:PRMIX)
INVESCO Multi Sector Fund (Nasdaq:IAMSX; Nasdaq:IBMSX; Nasdaq:ICMSX)
AIM INVESCO S&P 500 Index Fund (Nasdaq:ISPIX)
INVESCO Small Company Growth Fund (Nasdaq:ISGAX; Nasdaq:ISGBX; Nasdaq:ISGCX; Nasdaq:FIEGX; Nasdaq:ISCKX)
INVESCO Technology Fund (Nasdaq:ITYAX; Nasdaq:ITYBX; Nasdaq:ITHCX; Nasdaq:FTCHX; Nasdaq:ITHKX; Nasdaq:FTPIX)
INVESCO Total Return Fund (Nasdaq:IATRX; Nasdaq:IBTRX; Nasdaq:ITRCX; Nasdaq:FSFLX)
INVESCO Utilities Fund (Nasdaq:IAUTX; Nasdaq:IBUTX; Nasdaq:IUTCX; Nasdaq:FSTUX)
INVESCO Advantage Fund (Nasdaq:IADAX; Nasdaq:IADBX; Nasdaq:IADCX)
INVESCO Balanced Fund (Nasdaq:IBLAX; Nasdaq:IBLBX; Nasdaq:IBFIX; Nasdaq:IMABX; Nasdaq:IBLKX)
INVESCO European Fund (Nasdaq:IEUAX; Nasdaq:IEUBX; Nasdaq:IEUCX; Nasdaq:FEURX; Nasdaq:IEUKX)
INVESCO Growth Fund (Nasdaq:IAGWX; Nasdaq:IBGWX; Nasdaq:IBGCX; Nasdaq:FLRFX; Nasdaq:IGWKX)
INVESCO High Yield Fund (Nasdaq:IAHYX; Nasdaq:IBHYX; Nasdaq:IHYCX; Nasdaq:FHYPX; Nasdaq:IHYKX)
INVESCO Growth & Income Fund, (Nasdaq:IGIAX; Nasdaq:IGIBX; Nasdaq:IGRCX; Nasdaq:IVGIX; Nasdaq:IGIKX)
INVESCO International Blue Chip Value Fund (Nasdaq:IBVAX; Nasdaq:IBVBX; Nasdaq:IBVCX; Nasdaq:IIBCX)
INVESCO Real Estate Opportunity Fund (Nasdaq:IAREX; Nasdaq:IBREX; Nasdaq:IRECX; Nasdaq:IVSRX)
INVESCO Select Income Fund (Nasdaq:IASIX; Nasdaq:IBSIX; Nasdaq:ISICX; Nasdaq:FBDSX; Nasdaq:ISIKX)
INVESCO Tax Free Bond Fund (Nasdaq:IXBAX; Nasdaq:IXBBX; Nasdaq:ITFCX; Nasdaq:FTIFX; Nasdaq:IVTIX)
INVESCO Telecommunications Fund (Nasdaq:ITLAX; Nasdaq:ITLBX; Nasdaq:INTCX; Nasdaq:ISWCX; Nasdaq:ITEKX)
INVESCO U.S. Government Securities Fund (Nasdaq:IGVAX; Nasdaq:IGVBX; Nasdaq:IUGCX; Nasdaq:FBDGX)
INVESCO Value Fund (Nasdaq:IAVEX; Nasdaq:IBVEX; Nasdaq:IVACX; Nasdaq:FSEQX)
The complaint charges Invesco, Amvescap, AIM Management Group, Inc., AIM Stock Funds, 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 violations of the Securities Act of 1933 (the "Securities Act"), the Securities Exchange Act of 1934 (the "Exchange Act"), among other claims, and for common law breach of fiduciary duties. The Complaint alleges that during the Class Period the defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the INVESCO Mutual Funds. According to the Complaint, the Defendants surreptitiously permitted certain favored investors, including Canary and the Doe Defendants, to illegally engage in "timing" of the INVESCO 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 Invesco Mutual Funds' prospectuses.
If you bought shares of the INVESCO Mutual Funds between December 5, 1998 and November 24, 2003, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than February 2, 2004. If you are a member of this class, you can join this class action online at http://www.cauleygeller.com/template8.asp?pcode=6&pp=1. Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller or other counsel of their choice, or may choose to do nothing and remain an absent class member.
Cauley Geller is a national law firm that represents investors and consumers in class action and corporate governance litigation. It is one of the country's premiere firms in the area of securities fraud, with in house finance and forensic accounting specialists and extensive trial experience. Since its founding, Cauley Geller has recovered in excess of two billion dollars on behalf of aggrieved shareholders. The firm maintains offices in Boca Raton, Little Rock and New York.
If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e mail the Firm or visit the Firm's website at www.cauleygeller.com.