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Chimicles & Tikellis LLP announces that a derivative lawsuit has been filed on behalf of the Bank One family of funds (the “Funds”), operated by Bank One Corp., seeking to pursue remedies under common law and the Investment Advisers Act of 1940.

The Complaint alleges that defendants violated common law and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that certain of the defendants improperly allowed certain favored investors to engage in “timing” of the Funds’ securities. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing and that premature redemptions will be assessed a charge.

The derivative complaint seeks damages for harm caused to the various mutual fund families, disgorgement of excessive management fees and profits, removal of fund directors, rescission of fund management contracts, and the payment of attorneys’ fees and expenses, as well as therapeutic or structural changes in the funds’ policies and review procedures, aimed at decreasing the risk of similar wrongdoing occurring in the future. It is our belief that a derivative action will maximize recovery to investors because the illegally gained profits will be returned to the Fund and inure to the benefit of the investors.

Please contact us if you are an investor in one of the following mutual fund families and would like to learn more about the cases and possibly become a named plaintiff in a derivate lawsuit filed on behalf of the mutual fund:

Timothy N. Mathews, Esquire (timothymathews@chimicles.com)
Chimicles & Tikellis LLP
361 West Lancaster Avenue
Haverford, PA 19041
Toll Free: 866-399-2487

The Funds, and the symbols for the respective Funds named below, are as follows:

One Group Balanced (Sym: OGASX, OAMAX, OAMBX, OGAFX)
One Group Diversified Equity (Sym: PAVGX, OVBGX, ODECX, OGVFX)
One Group Diversified International (Sym: PGIEX, ONIBX, OGDCX, WOIEX)
One Group Diversified Mid Cap (Sym: PECAX, ODMBX, ODMCX, WOOPX)
One Group Equity Income (Sym: OIEIX, OGIBX, OINCX, HLIEX)
One Group Equity Index (Sym: OGEAX, OGEIX, OEICX, HLEIX)
One Group Health Sciences (Sym: OHSAX, OHSBX, OHSCX, OHSIX)
One Group International Equity Index (Sym: OEIAX, OGEBX, OIICX, OIEAX)
One Group Investor Balanced (Sym: OGIAX, OGBBX, OGBCX, OIBFX)
One Group Investor Conservative Growth (Sym: OICAX, OICGX, OCGCX, ONCFX)
One Group Investor Growth & Income (Sym: ONGIX, ONEBX, ONECX, ONGFX)
One Group Investor Growth (Sym: ONGAX, OGIGX, OGGCX, ONIFX)
One Group Large Cap Growth (Sym: OLGAX, OGLGX, OLGCX)
One Group Large Cap Value (Sym: OLVAX, OLVBX, OLVCX, HLQVX)
One Group Market Expansion Index (Sym: OMEAX, OMEBX, OMECX, PGMIX)
One Group Mid Cap Growth (Sym: OSGIX, OGOBX, OMGCX, HLGEX)
One Group Mid Cap Value (Sym: OGDIX, OGDBX, OMVCX, HLDEX)
One Group Small Cap Growth (Sym: PGSGX, OGFBX, OSGCX, OGGFX)
One Group Small Cap Value (Sym: PSOAX, PSOBX, OSVCX, PSOPX)
One Group Technology (Sym: OGTAX, OGTBX, OGTCX, OGTIX)
One Group Arizona Municipal Bond (Sym: OAMAX, OAMBX, OGAFX)
One Group Kentucky Municipal Bond (Sym: OKYAX, ONKBX, TRKMX)
One Group Louisiana Municipal Bond (Sym: PGLAX, ONLBX, OGLFX)
One Group Michigan Municipal Bond (Sym: PEIAX, OMIBX, WOMBX)
One Group Ohio Municipal Bond (Sym: ONOHX, OOHBX, HLOMX)
One Group West Virginia Municipal Bond (Sym: OQWAX, OGWBX, OGWFX)
One Group Short-Term Municipal Bond (Sym: OSTAX, OSTBX, PGUIX)
One Group Municipal Income (Sym: OTBAX, OTBBX, OMICX, HLTAX)
One Group Intermediate Tax-Free (Sym: ONTAX, ONFBX, HLTIX)
One Group Tax-Free Bond (Sym: PMBAX, PUBBX, PRBIX)
One Group Bond (Sym: PGBOX, OBOBX, OBOCX , WOBDX)
One Group Government Bond (Sym: OGGAX, OGGBX, OGVCX, HLGAX)
One Group High Yield Bond (Sym: OHYAX, OGHBX, OGHCX, OHYFX)
One Group Income Bond (Sym: ONIAX, OINBX, OBDCX, HLIPX)
One Group Intermediate Bond (Sym: OGBAX, OBDBX, OIMCX, SEIFX)
One Group Mortgage-Backed Securities (Sym: OMBAX, OMBIX)
One Group Short-Term Bond (Sym: OGLVX, OVBXB, OSTCX HLLVX)
One Group Treasury & Agency Bond (Sym: OTABX, ONTBX, F001CQ, OGTFX)
One Group Ultra Short-Term Bond (Sym: ONUAX, ONUBX ,OGUCX, HLGFX)

To learn more about the individual cases, click on the following links:

 

 

   Friday, July 04th, 2008



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