| Company: | Alger Funds |
| Ticker Symbol: | NASD: ALSAX, ALMAX, AMGAX, ALGAX |
| Class Period: | November 1, 1998 to September 3, 2003 |
| Court: | Southern District, NY |
| Date Filed: | Nov-04-03 |
| Lead Plaintiff Deadline: | Jan-05-04 |
| Allegations: |
A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers of shares of the Alger Funds family of funds (the "Alger Funds") during the period between November 1, 1998 and September 3, 2003, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934, the Securities Act of 1933 and the Investment Advisers Act of 1940.
The Funds and the symbols for the respective Funds subject to the lawsuit are as follows:
-- Alger SmallCap Portfolio (Sym: ALSAX, ALSCX, AGSCX)
-- Alger SmallCap and MidCap Portfolio (Sym: ALMAX, ALMBX, ALMCX)
-- Alger MidCap Growth Portfolio (Sym: AMGAX, AMCGX, AMGCX)
-- Alger LargeCap Growth Portfolio (Sym: ALGAX, AFGPX, ALGCX)
-- Alger Capital Appreciation Portfolio (Sym: ACAAX, ACAPX, ALCCX)
-- Alger Health Sciences Portfolio (Sym: AHSAX, AHSBX, AHSCX)
-- Alger Balanced Portfolio (Sym: ALBAX, ALGBX, ALBCX)
-- Alger Small Cap Institutional Fund (Sym: ALSRX, ASIRX)
-- Alger MidCap Institutional Fund (Sym: ALMRX, ALGRX)
-- Alger LargeCap Growth Institutional Fund (Sym: ALGRX, ALGIX)
-- Alger Capital Appreciation Institutional Fund (Sym: ALARX, ACARX)
-- Alger Balanced Institutional Fund (Sym: ABLRX, ABIRX)
-- Alger Socially Responsible Growth Institutional Fund (Sym: ASRGX, ASRRX)
-- Spectra Fund (Sym: SPEAX, SPECX)
The lawsuit alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The wrongful conduct alleged in and which is the subject of the lawsuit relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares to turn a quick profit. The lawsuit alleges that timing injures ordinary mutual fund investors who are not allowed to engage in such practices and benefits the mutual fund companies.
If you acquired the securities of the defendants during the Class Period you may, no later than Jan-05-04, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Funds and the symbols for the respective Funds subject to the lawsuit are as follows:
-- Alger SmallCap Portfolio (Sym: ALSAX, ALSCX, AGSCX)
-- Alger SmallCap and MidCap Portfolio (Sym: ALMAX, ALMBX, ALMCX)
-- Alger MidCap Growth Portfolio (Sym: AMGAX, AMCGX, AMGCX)
-- Alger LargeCap Growth Portfolio (Sym: ALGAX, AFGPX, ALGCX)
-- Alger Capital Appreciation Portfolio (Sym: ACAAX, ACAPX, ALCCX)
-- Alger Health Sciences Portfolio (Sym: AHSAX, AHSBX, AHSCX)
-- Alger Balanced Portfolio (Sym: ALBAX, ALGBX, ALBCX)
-- Alger Small Cap Institutional Fund (Sym: ALSRX, ASIRX)
-- Alger MidCap Institutional Fund (Sym: ALMRX, ALGRX)
-- Alger LargeCap Growth Institutional Fund (Sym: ALGRX, ALGIX)
-- Alger Capital Appreciation Institutional Fund (Sym: ALARX, ACARX)
-- Alger Balanced Institutional Fund (Sym: ABLRX, ABIRX)
-- Alger Socially Responsible Growth Institutional Fund (Sym: ASRGX, ASRRX)
-- Spectra Fund (Sym: SPEAX, SPECX)
The lawsuit alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The wrongful conduct alleged in and which is the subject of the lawsuit relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares to turn a quick profit. The lawsuit alleges that timing injures ordinary mutual fund investors who are not allowed to engage in such practices and benefits the mutual fund companies.
If you acquired the securities of the defendants during the Class Period you may, no later than Jan-05-04, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
