LOS ANGELES, Jan. 27, 2004 (PRIMEZONE) -- Notice is hereby given by Glancy Binkow & Goldberg LLP that a Class Action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of a class (the "Class") consisting of all persons or entities who purchased or otherwise acquired mutual funds in the Scudder family of funds (the "Funds"), between January 22, 1999 and January 12, 2004, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg 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, Deutsche Bank AG, Scudder Investments, Deutsche Investment Management and Deutsche Asset Management with violations of federal securities laws. The complaint alleges that during the Class Period defendants failed to disclose that certain favored investors were allowed to engage in "market timing" -- short-term, in-and-out trading of mutual fund shares -- to the detriment of other Scudder Funds investors who paid, dollar-for-dollar, for the favored investors' improper profits. The complaint alleges that these improper practices were undisclosed in the Scudder Funds' prospectuses, which represented that the Funds actively deter "timing."
The Funds, and the symbols for the respective Funds named below, are as follows:
Scudder Lifecycle Mid Range Fund (Nasdaq: BTLRX)
Scudder Lifecycle Long Range Fund (Nasdaq: BTILX), (Nasdaq: BTAMX)
Scudder Lifecycle Short Range Fund (Nasdaq: BTSRX)
Scudder Pathway Conservative Portfolio (Nasdaq: SUCAX), (Nasdaq:
SUCBX), (Nasdaq: SUCCX)
Scudder Pathway Growth Portfolio (Nasdaq: SUPAX), (Nasdaq: SUPBX),
(Nasdaq: SUPCX)
Scudder Pathway Moderate Portfolio (Nasdaq: SPDAX), (Nasdaq:
SPDBX), (Nasdaq: SPDCX)
Scudder Retirement Fund Series V (Nasdaq: KRFEX)
Scudder Retirement Fund Series VI (Nasdaq: KRFGX)
Scudder Retirement Fund Series VII (Nasdaq: KRFGX)
Scudder Target 2010 Fund (Nasdaq: KRFBX)
Scudder Target 2012 Fund (Nasdaq: KRFCX)
Scudder Target 2013 Fund (Nasdaq: KRFDX)
Scudder Total Return Fund (Nasdaq: KTRAX), (Nasdaq: KTRBX), (Nasdaq:
KTRCX), (Nasdaq: KTRGX)
Scudder-Dreman Financial Services Fund (Nasdaq: KDFAX), (Nasdaq:
KDFBX), (Nasdaq: KDFCX)
Scudder Technology Innovation Fund (Nasdaq: SRIAX), (Nasdaq:
SRIBX), (Nasdaq: SRICX)
Scudder Top 50 US Fund (Nasdaq: FAUSX), (Nasdaq: FBUSX), (Nasdaq:
FCUSX) Scudder Small Cap Fund (Nasdaq: SSDAX), (Nasdaq: SSDBX),
(Nasdaq: SSDCX),
(Nasdaq: SSDRX), (Nasdaq: BTSCX)
Scudder Micro Cap Fund (Nasdaq: SMFAX), (Nasdaq: SMFBX), (Nasdaq:
SMFCX), (Nasdaq: MGMCX), (Nasdaq: MMFSX)
Scudder Gold & Precious Metals Fund (Nasdaq: SGDAX), (Nasdaq:
SGDBX), (Nasdaq: SGDCX)
Scudder Dynamic Growth Fund (Nasdaq: KSCAX), (Nasdaq: KSCBX),
(Nasdaq: KSCCX)
Scudder Flag Investors Communications Fund (Nasdaq: TISHX),
(Nasdaq: FTEBX), (Nasdaq: FTICX), (Nasdaq: FLICX)
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg 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 March 22, 2004, 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 & Goldberg 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