LOS ANGELES, Sept. 15, 2003 (PRIMEZONE) -- Notice is hereby given that Glancy & Binkow LLP commenced a Class Action lawsuit in the United States District Court for the Southern District of New York on behalf of a class (the "Class") consisting of all persons who purchased securities of the Janus Funds family of funds, which are owned and operated by Janus Capital Group, Inc. ("Janus Capital Group" or the "Company") (NYSE:JNS) and its affiliates, between October 1, 1998 and July 3, 2003, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy & Binkow LLP. Please contact us by phone to discuss this action or obtain a copy of the Complaint at (310) 201-9161 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges, among others, Janus Capital Group and certain of the Company's wholly owned subsidiaries with violations of federal securities laws and breach of fiduciary duty. Among other things, plaintiff claims that Janus Capital Group and its subsidiaries allowed certain favored investors to engage in improper trading of Janus Funds in return for extra fees and other income, inflicting damages on investors. Through its subsidiaries, Janus Capital Group markets, sponsors and provides investment advisory, distribution and administrative services to mutual funds. The complaint alleges that during the Class Period defendants failed to disclose that certain investors, including defendant Canary Capital Partners LLC, were allowed to engage in "timing" -- short-term, in-and-out trading of mutual fund shares -- to the detriment of other Janus Funds investors. The complaint alleges that these practices were undisclosed in the Janus Funds' prospectuses, which represented that the Janus Funds actively deter "timing."
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy & Binkow LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than November 4, 2003, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy & Binkow LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9161 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca