Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuits Against Mutual Fund Companies, Including Strong Capital Management, Inc., Janus Capital Management LLC, Bank One Investment Advisors Corporation and/or the Bank of America Corp. and/or Against Various Mutual Funds

Company Release - 9/8/2003 11:41 AM ET

BALTIMORE, Sept. 8 /PRNewswire/ -- Law Offices Of Charles J. Piven, P.A. today announced that various class actions have been commenced charging improper trading practices permitted by mutual fund companies including Janus Capital Group, Inc. (NYSE: JNS), Bank of America Corp. (NYSE: BAC), Bank One Corp. (NYSE: ONE), and Strong Financial Corporation.

One such class action has been commenced in the United States District Court for the Central District of California against Bank of America (NYSE: BAC) on behalf of purchasers of its Nations Funds family of funds from May 3, 2001, through July 3, 2003, including Nations International Equity Fund (Nasdaq: NIIAX, NIENX, NITRX, NIEQX, NIEPX), Nations Small Cap Funds (Nasdaq: NSVAX, NMSCX, NMSAX), Nations Convertible Securities Fund (Nasdaq: PACIX), and Nations Emerging Markets Funds.

Another such class action was commenced in Colorado state court on behalf of all purchasers, redeemers and holders of mutual fund shares of Janus High- Yield Fund (Nasdaq: JAHYX) and Janus Mercury Fund (Nasdaq: JAMRX).

Another such class action was commenced in Wisconsin state court on behalf of all purchasers, redeemers and holders of mutual fund shares of Strong Growth Fund (Nasdaq: SGROX), Strong Large-Cap Growth Fund (Nasdaq: STRFX), Strong Growth 20 Fund (Nasdaq: SGTWX), Strong Advisor Mid-Cap Growth (Nasdaq: SMDCX), and Strong American Dividend Income Fund (Nasdaq: SDVIX).

Another such class action has been commenced in the United States District Court for the District of New Jersey to recover fees paid by various of these funds to their advisors on behalf of funds managed by Strong Capital Management, Inc.: Strong Growth 20 Fund (Nasdaq: SGTWX), Strong Growth Fund (Nasdaq: SGROX), Strong Advisor Mid Cap Growth Fund (Nasdaq: SMDCX), Strong Large Cap Growth Fund (Nasdaq: STRFX) and Strong American Dividend Income Fund (Nasdaq: SDVIX); funds managed by Janus Capital Management LLC: Janus Mercury Fund (Nasdaq: JAMRX) and Janus High Yield Fund (Nasdaq: JAHYX); and funds managed by Bank One Investment Advisors Corporation: One Group Small Cap Growth Fund, One Group International Equity Index Fund (Nasdaq: OEIAX, OGEBX, OIEAX), One Group Diversified International Fund (Nasdaq: OGDCX, ONIBX) and One Group Mid Cap Growth Fund (Nasdaq: HLGEX, OGOBX, OMGCX, OSGIX).

The wrongful conduct alleged in and which is the subject of one or more of these complaints relates to "late trading" of mutual fund shares by certain customers of the fund (including one or more hedge funds). Specifically, the conduct complained of relates to allegations that certain of those who invested in certain of the various defendants' mutual fund, including Canary Capital Partners, LLC and Canary Investment Management, LLC (collectively, "Canary"), improperly arranged to place orders after 4 p.m. Eastern Time on a given day at that day's price (instead of the next day's price, which the order would have received had it been processed lawfully). This allowed Canary and any other mutual fund investors who engaged in the same wrongful course of conduct to capitalize on information available only after 4:00 p.m. Eastern Time while others who bought shares in the subject mutual funds could not so benefit.

The wrongful conduct alleged in and which is the subject of one or more of these complaints relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares designed to take advantage of inefficiencies in the way mutual fund companies price their shares, particularly shares of international funds. It is alleged, further, that timing, typically not condoned by mutual fund companies, was permitted by select investors to the detriment of other mutual fund investors and for the benefit of the mutual fund companies.

No class has yet been certified in the above actions. Until a class is certified, you are not represented unless you retain an attorney. If you are a member of any of the proposed classes, meaning, you are one who purchased, redeemed and/or held of any of the mutual funds referenced herein during the period that the conduct complained of occurred, you may be eligible to serve as a plaintiff. To be a member of one or more of the classes, you need not take any action at this time, and you may retain counsel of your choice.

If you are one who purchased, redeemed and/or held any of the mutual funds referenced above during the period that the conduct complained of occurred and want to discuss your legal rights, or if you have information or questions about other mutual fund companies being investigated for improper conduct, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven has been involved in securities litigation for over ten years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at [email protected] or by calling 410/332-0030.

CONTACT: Law Offices Of Charles J. Piven, P.A., Baltimore, Maryland

Charles J. Piven, 410/332-0030

[email protected]

SOURCE  Law Offices Of Charles J. Piven, P.A.
    -0-                             09/08/2003
    /CONTACT:  Charles J. Piven, Law Offices Of Charles J. Piven, P.A.,
+1-410-332-0030, [email protected]/
    (NIIAX NSVAX PACIX SGTWX SGROX SMDCX STRFX SDVIX JAMRX OEIAX ONIBX OSGIX)

CO:  Law Offices Of Charles J. Piven, P.A.; Janus Capital Group, Inc.; Bank of
     America Corp.; Bank One Corp.; Strong Financial Corporation
ST:  Maryland, California, Colorado, Wisconsin, New Jersey
IN:  FIN
SU:  LAW



PD 
-- PHM027 --
0257 09/08/200311:41 EDThttp://www.prnewswire.com