NEW YORK, Sept. 9, 2005 (PRIMEZONE) -- The law firm of Murray, Frank & Sailer LLP announces that it has filed a class action lawsuit on behalf of all persons who purchased AIM Funds from UBS-AG ("UBS"), from May 1, 2000 through April 30, 2005, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1993 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").
The Funds, and the Symbols for the respective AIM Funds named below, are as follows:
IAGHX AIM Advantage Health Sci A IGHBX AIM Advantage Health Sci B IGHCX AIM Advantage Health Sci C AAGFX AIM Aggressive Growth A AAGBX AIM Aggressive Growth B AAGCX AIM Aggressive Growth C AAGVX AIM Aggressive Growth I ARRGX AIM Aggressive Growth R ASIAX AIM Asia Pacific Growth A ASIBX AIM Asia Pacific Growth B ASICX AIM Asia Pacific Growth C BBLAX AIM Basic Balanced A BBLBX AIM Basic Balanced B BBLCX AIM Basic Balanced C BBLIX AIM Basic Balanced Inst BBLTX AIM Basic Balanced Inv BBLRX AIM Basic Balanced R GTVLX AIM Basic Value A GTVBX AIM Basic Value B GTVCX AIM Basic Value C GTVVX AIM Basic Value I GTVRX AIM Basic Value R ABCAX AIM Blue Chip A ABCBX AIM Blue Chip B ABCCX AIM Blue Chip C ABCVX AIM Blue Chip I BCIVX AIM Blue Chip Inv ABCRX AIM Blue Chip R ACDAX AIM Capital Development A ACDBX AIM Capital Development B ACDCX AIM Capital Development C ACDVX AIM Capital Development I ACDIX AIM Capital Development Inv ACDRX AIM Capital Development R CHTRX AIM Charter A BCHTX AIM Charter B CHTCX AIM Charter C CHTVX AIM Charter I CHRRX AIM Charter R ACNAX AIM Conservative Allocation A ACNBX AIM Conservative Allocation B ACNCX AIM Conservative Allocation C ACNIX AIM Conservative Allocation Inst ACNRX AIM Conservative Allocation R CSTGX AIM Constellation A CSTBX AIM Constellation B CSTCX AIM Constellation C CSITX AIM Constellation I CSTRX AIM Constellation R GTDDX AIM Developing Markets A GTDBX AIM Developing Markets B GTDCX AIM Developing Markets C LCEAX AIM Diversified Dividend Fund A LCEDX AIM Diversified Dividend Fund B LCEVX AIM Diversified Dividend Fund C LCEIX AIM Diversified Dividend Inv IDYAX AIM Dynamics A IDYBX AIM Dynamics B IFDCX AIM Dynamics C IDICX AIM Dynamics Instl FIDYX AIM Dynamics Inv IDYKX AIM Dynamics K IENAX AIM Energy A IENBX AIM Energy B IEFCX AIM Energy C FSTEX AIM Energy Inv IENKX AIM Energy K AEDAX AIM European Growth A AEDBX AIM European Growth B AEDCX AIM European Growth C EGINX AIM European Growth Inv AEDRX AIM European Growth R ESMAX AIM European Small Company A ESMBX AIM European Small Company B ESMCX AIM European Small Company C IFSAX AIM Financial Services A IFSBX AIM Financial Services B IFSCX AIM Financial Services C FSFSX AIM Financial Services Inv FSFKX AIM Financial Services K XAFRX AIM Floating Rate B XFRCX AIM Floating Rate C AGAAX AIM Global Aggressive Growth A AGABX AIM Global Aggressive Growth B AGACX AIM Global Aggressive Growth C GTNDX AIM Global Equity A GNDBX AIM Global Equity B GNDCX AIM Global Equity C GNDIX AIM Global Equity Inst AGGAX AIM Global Growth A AGGBX AIM Global Growth B AGGCX AIM Global Growth C GGHCX AIM Global Health Care A GTHBX AIM Global Health Care B GTHCX AIM Global Health Care C GTHIX AIM Global Health Care Inv AGREX AIM Global Real Estate A BGREX AIM Global Real Estate B CGREX AIM Global Real Estate C IGREX AIM Global Real Estate Instl RGREX AIM Global Real Estate R AWSAX AIM Global Value A AWSBX AIM Global Value B AWSCX AIM Global Value C IGDAX AIM Gold & Precious Metals A IGDBX AIM Gold & Precious Metals B IGDCX AIM Gold & Precious Metals C FGLDX AIM Gold & Precious Metals Inv AADAX AIM Growth Allocation A AAEBX AIM Growth Allocation B AADCX AIM Growth Allocation C AADIX AIM Growth Allocation I AADRX AIM Growth Allocation R AHMAX AIM High Income Municipal Bond A AHMBX AIM High Income Municipal Bond B AHMCX AIM High Income Municipal Bond C AMHYX AIM High-Yield A AHYBX AIM High-Yield B AHYCX AIM High-Yield C AHIYX AIM High-Yield Inst HYINX AIM High-Yield Inv AMIFX AIM Income A ABIFX AIM Income B ACIFX AIM Income C AIIVX AIM Income Inv AMIRX AIM Income R AGOVX AIM Intermediate Government A AGVBX AIM Intermediate Government B AGVCX AIM Intermediate Government C AGOIX AIM Intermediate Government Instl AGIVX AIM Intermediate Government Inv AGVRX AIM Intermediate Government R AIIEX AIM International Growth A AIEBX AIM International Growth B AIECX AIM International Growth C AIEVX AIM International Growth I AIERX AIM International Growth R IEGAX AIM International Small Company A IEGBX AIM International Small Company B IEGCX AIM International Small Company C IBVAX AIM Intl Core Equity A IBVBX AIM Intl Core Equity B IBVCX AIM Intl Core Equity C IBVIX AIM Intl Core Equity Inst IIBCX AIM Intl Core Equity Inv IIBRX AIM Intl Core Equity R LCBAX AIM Large Cap Basic Value A LCBBX AIM Large Cap Basic Value B LCBCX AIM Large Cap Basic Value C LCBIX AIM Large Cap Basic Value Inst LCINX AIM Large Cap Basic Value Inv LCBRX AIM Large Cap Basic Value R LCGAX AIM Large Cap Growth A LCGBX AIM Large Cap Growth B LCGCX AIM Large Cap Growth C LCIGX AIM Large Cap Growth Inst LCGIX AIM Large Cap Growth Inv LCRGX AIM Large Cap Growth R ILSAX AIM Leisure A ILSBX AIM Leisure B IVLCX AIM Leisure C FLISX AIM Leisure Inv ILEKX AIM Leisure K SHTIX AIM Limited Maturity Treasury A LMTAX AIM Limited Maturity Treasury A3 ALMIX AIM Limited Maturity Treasury I MDCAX AIM Mid Cap Basic Value A MDCBX AIM Mid Cap Basic Value B MDCVX AIM Mid Cap Basic Value C MDICX AIM Mid Cap Basic Value Inst MDCRX AIM Mid Cap Basic Value R GTAGX AIM Mid Cap Core Equity A GTABX AIM Mid Cap Core Equity B GTACX AIM Mid Cap Core Equity C GTAVX AIM Mid Cap Core Equity I GTARX AIM Mid Cap Core Equity R AMCAX AIM Mid Cap Growth A AMCBX AIM Mid Cap Growth B AMCVX AIM Mid Cap Growth C AMIGX AIM Mid Cap Growth Inst AMGRX AIM Mid Cap Growth R AMKAX AIM Moderate Allocation A AMKBX AIM Moderate Allocation B AMKCX AIM Moderate Allocation C AMLIX AIM Moderate Allocation Inst AMKRX AIM Moderate Allocation R AAMGX AIM Moderate Growth Allocation A AMBGX AIM Moderate Growth Allocation B ACMGX AIM Moderate Growth Allocation C AIMGX AIM Moderate Growth Allocation Instl RAMGX AIM Moderate Growth Allocation R CAAMX AIM Moderately Conservative Alloc A CMBAX AIM Moderately Conservative Alloc B CACMX AIM Moderately Conservative Alloc C CMAIX AIM Moderately Conservative Alloc Instl CMARX AIM Moderately Conservative Alloc R IAMSX AIM Multi-Sector A IBMSX AIM Multi-Sector B ICMSX AIM Multi-Sector C IIMSX AIM Multi-Sector Inst AMBDX AIM Municipal Bond A AMBBX AIM Municipal Bond B AMBCX AIM Municipal Bond C AMBIX AIM Municipal Bond Inv ASCOX AIM Opportunities I A SCPBX AIM Opportunities I B SCOCX AIM Opportunities I C AMCOX AIM Opportunities II A MCOVX AIM Opportunities II B MCODX AIM Opportunities II C LCPAX AIM Opportunities III A LCPBX AIM Opportunities III B LCPCX AIM Opportunities III C AVLFX AIM Premier Equity A AVLBX AIM Premier Equity B AVLCX AIM Premier Equity C AVLVX AIM Premier Equity I AVLRX AIM Premier Equity R IARAX AIM Real Estate A AARBX AIM Real Estate B IARCX AIM Real Estate C IARIX AIM Real Estate Inst REINX AIM Real Estate Inv IARRX AIM Real Estate R ISIIX AIM S&P 500 Index Instl ISPIX AIM S&P 500 Index Inv AGWFX AIM Select Equity A AGWBX AIM Select Equity B AGWCX AIM Select Equity C XRREX AIM Select Real Estate Income Fund STBAX AIM Short Term Bond A STBCX AIM Short Term Bond C ISTBX AIM Short Term Bond Inst STBRX AIM Short Term Bond R SMEAX AIM Small Cap Equity A SMEBX AIM Small Cap Equity B SMECX AIM Small Cap Equity C SMEIX AIM Small Cap Equity Instl SMERX AIM Small Cap Equity R GTSAX AIM Small Cap Growth A GTSBX AIM Small Cap Growth B GTSDX AIM Small Cap Growth C GTSVX AIM Small Cap Growth I GTSRX AIM Small Cap Growth R ISGAX AIM Small Company Growth A ISGBX AIM Small Company Growth B ISGCX AIM Small Company Growth C IIEGX AIM Small Company Growth Fund Insititutional Class FIEGX AIM Small Company Growth Inv ISCKX AIM Small Company Growth K SMMIX AIM Summit AITFX AIM Tax-Free Intermediate A ATFAX AIM Tax-Free Intermediate A3 ATFIX AIM Tax-Free Intermediate Inst ITYAX AIM Technology A ITYBX AIM Technology B ITHCX AIM Technology C FTPIX AIM Technology Instl FTCHX AIM Technology Inv ITHKX AIM Technology K TBRAX AIM Total Return Bond A TBRDX AIM Total Return Bond B TBRCX AIM Total Return Bond C TBRIX AIM Total Return Bond Inst TBRRX AIM Total Return Bond R ATKAX AIM Trimark A ATKBX AIM Trimark B ATKCX AIM Trimark C ATDAX AIM Trimark Endeavor A ATDBX AIM Trimark Endeavor B ATDCX AIM Trimark Endeavor C ATDIX AIM Trimark Endeavor Inst ATDRX AIM Trimark Endeavor R ATKIX AIM Trimark Inst ATKRX AIM Trimark R ATIAX AIM Trimark Small Companies A ATIBX AIM Trimark Small Companies B ATICX AIM Trimark Small Companies C ATIIX AIM Trimark Small Companies Inst ATIRX AIM Trimark Small Companies R IAUTX AIM Utilities A IBUTX AIM Utilities B IUTCX AIM Utilities C FSTUX AIM Utilities Inv WEINX AIM Weingarten A BWEIX AIM Weingarten B CWEIX AIM Weingarten C IWEIX AIM Weingarten I RWEIX AIM Weingarten R
The complaint alleges that during the Class Period, defendants served as financial advisors who purportedly provided unbiased and honest investment advice to their clients. Unbeknownst to investors, defendants, in clear contravention of their disclosure obligations and fiduciary responsibilities, failed to properly disclose that they had engaged in a scheme to aggressively push UBS sales personnel to steer clients into purchasing certain UBS Funds and UBS Tier I Funds, which included AIM Funds, that provided financial incentives and rewards to UBS and its personnel based on sales. The complaint alleges that defendants' undisclosed sales practices created an insurmountable conflict of interest by providing substantial monetary incentives to sell Shelf-Space Funds to their clients, even though such investments were not in the clients' best interest. UBS' failure to disclose the incentives constituted violations of federal securities laws.
The action also includes a subclass of persons who held any shares of UBS Mutual Funds. The complaint additionally alleges that the investment advisor subsidiary of UBS, UBS Global Asset Management created further undisclosed material conflicts of interest by entering into revenue sharing agreements with UBS financial Advisors to push investors into UBS proprietary funds, regardless of whether such investments were in the investors' best interests. The investment advisors financed these arrangements by illegally charging excessive and improper fees to the fund that should have been invested in the underlying portfolio. In doing so they breached their fiduciary duties to investors under the Investment Company Act and state law and decreased shareholders' investment returns.
The action includes a second subclass of persons who purchased a UBS Financial Plan that held Tier I mutual funds. The UBS Financial Plans include, but are not limited to UBS Personalized Asset Consulting and Evaluation Plan, InsightOne accounts, and/or a resource management accounts.
Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than fifteen years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.
If you purchased any of the AIM Funds through a UBS broker between May 1, 2000 through April 30, 2005, inclusive, and sustained damages, you may, no later than September 30, 2005, request that the Court appoint you as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at www.murrayfrank.com. Contact plaintiff's counsel Eric J. Belfi, Christopher Hinton or Bradley Dyer to discuss this action, this announcement, or your rights or interests.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca