Scudder Family of Funds Implicated in Market Timing Scandal |
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Several class actions have been filed against the Scudder family of mutual funds (various stock symbols) and Deutsche Bank AG by investors who purchased the securities of the Scudder family of funds between January 22, 1999, and January 12, 2004. The actions claim that the defendants violated federal securities laws by engaging in illegal and improper trading practices in concert with certain institutional traders, causing financial injury to the shareholders of the Scudder Mutual Funds. The investors seek to recover compensatory damages for the loss of value of their stock.
The action alleges that the defendants surreptitiously permitted certain favored investors, including currently unnamed investors, to illegally engage in "timing" of the Scudder Mutual Funds whereby these favored investors were permitted to conduct short-term, "in and out" trading of mutual fund shares, despite explicit restrictions on such activity in the Scudder Mutual Funds' prospectuses.
The Funds named in the action are:
Scudder 21st Century Growth Fund
Scudder Aggressive Growth Fund
Scudder Blue Chip Fund
Scudder Capital Growth Fund
Scudder Dynamic Growth Fund
Scudder Flag Investors Communications Fund
Scudder Global Biotechnology Fund
Scudder Gold & Precious Metals Fund
Scudder Growth Fund
Scudder Health Care Fund
Scudder Large Company Growth Fund
Scudder Micro Cap Fund
Scudder Mid Cap Fund
Scudder Small Cap Fund
Scudder Strategic Growth Fund
Scudder Technology Fund
Scudder Technology Innovation Fund
Scudder Top 50 US Fund
Scudder Contrarian Fund
Scudder-Dreman Financial Services Fund
Scudder-Dreman High Return Equity Fund
Scudder-Dreman Small Cap Value Fund
Scudder Flag Investors Equity Partners Fund
Scudder Growth & Income Fund
Scudder Large Company Value Fund
Scudder-Rreef Real Estate Securities Fund
Scudder Small Company Stock Fund
Scudder Small Company Value Fund
Scudder Tax Advantaged Dividend Fund
Scudder Flag Investors Value Builder Fund
Scudder Focus Value and Growth Fund
Scudder Lifecycle Mid Range Fund
Scudder Lifecycle Long Range Fund
Scudder Lifecycle Short Range Fund
Scudder Pathway Conservative Portfolio
Scudder Pathway Growth Portfolio
Scudder Pathway Moderate Portfolio
Scudder Retirement Fund Series VII
Scudder Target 2010 Fund
Scudder Target 2011 Fund
Scudder Target 2012 Fund
Scudder Target 2013 Fund
Scudder Total Return Fund
Scudder Emerging Markets Growth Fund
Scudder European Equity Fund
Scudder Global Fund
Scudder Global Bond Fund
Scudder Global Discovery Fund
Scudder Greater Europe Growth Fund
Scudder International Fund
Scudder International Equity Fund
Scudder Interantional Select Equity Fund
Scudder Japanese Equity Fund
Scudder Latin America Fund
Scudder New Europe Fund
Scudder Pacific Opportunities fund
Scudder Worldwide 2004 Fund
Scudder Fixed Income Fund
Scudder High Income Plus Fund
Scudder High Income Fund
Scudder High Income Opportunity Fund
Scudder Income Fund
Scudder Preservationplus Fund
Scudder Preservationplus Income Fund
Scudder Short Term Bond Fund
Scudder Short Duration Fund
Scudder Strategic Income Fund
Scudder US Government Securities Fund
Scudder California Tax-Free Income Fund
Scudder Floria Tax-Free Income Fund
Scudder High Yield Tax-Free Fund
Scudder Intermediate Tax/Amt Free Fund
Scudder Managed Municipal Bond Fund
Scudder Massachusetts Tax-Free Fund
Scudder Municipal Bond Fund
Scudder New York Tax-Free Income Fund
Scudder Shorth Term Municipal Bond Fund
Scudder Eafe (r) Equity Index Fund
Scudder Equity 500 Index Fund
Scudder S&P 500 Stock Fund
Scudder Select 500 Fund
Scudder US Bond Index Fund
Scudder Cash Reserves Fund, (collectively known as "Scudder Funds)
Scudder Advisor Funds II
Scudder Advisor Funds III
Scudder California Tax Free Trust
Scudder Cash Investment Trust
Scudder Cash Management Portfolio
Scudder Securities Trust
Scudder Equity 500 Index Poerfolio Value Equity Trust
Scudder Equity Trust/IL
Scudder Flag Investors Communication Fund Inc.
Scudder Flag Equity Partners Fund Inc.
Scudder Flag Investors Value Builder Fund, Inc.
Scudder Floating Rate Fund/MA/
Scudder Focus Value Plus Growth Fund
Scudder Money Market Trust
Scudder Funds Trust
Scudder GNBA Fund
Scudder Growth Trust
Scudder High Income Series
Scudder Institutional Funds
Scudder Investment Portfolios Investment Trust
Scudder Investments Vit Funds
Scudder Investors Funds Inc.
Scudder Investors Portfolios Trust
Scudder Investors Trust
Scudder MG Investments Trust
Scudder Money Funds
Scudder Municipal Trust
Scudder Mutual Funds Inc.
Scudder Pathway Series/New/
Scudder Portfolio Trust
Scudder Portfolios
Scudder Reef Securities Trust
Scudder State Tax Free Trust
Scudder State Tax-Free Income Series
Scudder Target Fund
Scudder Tax Free Money Fund,
Scudder Tax Free Trust
Scudder Treasury Money Portfolio
Scudder U.S. Government Securities Fund
Scudder U.S. Treasury Money Fund
Scudder Value Series Inc.
Scudder Yieldwise funds, (collectively known as "Scudder Registrants")
Scudder Retirement Fund Series
Scudder Retirement Fund Series V1
Scudder Emerging Markets Income Fund
Global/International Fund, Inc.
Deutshe Bank AG
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