The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of all investors who purchased or otherwise acquired TWVLX, AVLIX, AVUYX, TWADX, ACLCX, AVURX, AVUGX, and AVUDX pursuant and or traceable to registration statements and prospectuses filed between November 5, 2018 and the present.
According to the American Century Capital lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the Fund’s investment strategy was neither to identify companies whose stock price may not reflect the company’s value, nor 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; (ii) Defendants were not actively managing the Fund (which allegedly included researching and selecting investments for the Fund); (iii) Defendants employed an investment strategy designed to closely track the performance of the Fund’s stated benchmark index, the Russell 1000 Value index, known as “closet indexing”; (iv) Defendants had no reason to charge substantial fees to the Fund for this purportedly active management while engaging in closet indexing; (v) the excessive fees virtually ensured that the Fund could not match its benchmark over time, let alone outperform it; and (vi) as a result, the Fund would consistently fail to meet or outperform its benchmark index.
If you suffered a loss in American Century Capital you have until January 10, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\’t require that you serve as a lead plaintiff.
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