| Company: | INVESCO Mutual Funds |
| Ticker Symbol: | NASD: IMGAX, IDYAX, ITYAX, ISGAX |
| Class Period: | December 5, 1998 to November 24, 2003 |
| Court: | District, CO |
| Date Filed: | Dec-04-03 |
| Lead Plaintiff Deadline: | Feb-02-04 |
| Allegations: |
A class action lawsuit is pending in the United States District Court for the District of Colorado on behalf of purchasers, redeemers and holders of shares of the INVESCO Mutual Funds set forth below (the "Funds") between December 5, 1998 and November 24, 2003, inclusive ("Class Period").
The Funds that are the subject of this suit and their symbols 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 violating the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and with common law breach of fiduciary duties.
Specifically, it is alleged that during the Class Period, defendants failed to disclose that they improperly allowed certain favored investors, including Canary and the Doe defendants, to engage in the "market timing" of their transactions in the Funds. Market timing is short term, arbitrage trading that exploits inefficiencies in the way mutual funds are priced. Market timing injures long term mutual fund investors, who are not allowed to engage in such practices, by, among other things, diluting the profits they would otherwise receive and by concentrating their losses. According to the Complaint, favored investors were allowed to market time their transactions despite specific restrictions on these practices in the prospectuses of the Funds.
If you acquired the securities of the defendants during the Class Period you may, no later than Feb-02-04, 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 that are the subject of this suit and their symbols 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 violating the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and with common law breach of fiduciary duties.
Specifically, it is alleged that during the Class Period, defendants failed to disclose that they improperly allowed certain favored investors, including Canary and the Doe defendants, to engage in the "market timing" of their transactions in the Funds. Market timing is short term, arbitrage trading that exploits inefficiencies in the way mutual funds are priced. Market timing injures long term mutual fund investors, who are not allowed to engage in such practices, by, among other things, diluting the profits they would otherwise receive and by concentrating their losses. According to the Complaint, favored investors were allowed to market time their transactions despite specific restrictions on these practices in the prospectuses of the Funds.
If you acquired the securities of the defendants during the Class Period you may, no later than Feb-02-04, 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.
