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Chimicles & Tikellis LLP announces that a derivative lawsuit has been filed on behalf of the Scudder family of funds (the “Funds”), operated by Germany-based financial services company, Deutsche Bank AG (NYSE: DB), Scudder Investments, and Deutsche Investment Management Americas Inc. (“Deutsche Investment Management”) and Deutsche Asset Management, Inc. (“Deutsche Asset Management”), and their affiliates and/or subsidiaries, 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:
Scudder 21st Century Growth Fund (Sym: SCNAX, SCNBX, SCNCX)
Scudder Aggressive Growth Fund (Sym: KGGAX, KGGBX, KGGCX)
Scudder Blue Chip Fund (Sym: KBCAX, KBCBX, KBCCX)
Scudder Capital Growth Fund (Sym: SDGAX, SDGBX, SDGCX, SDGRX, SDGTX)
Scudder Dynamic Growth Fund (Sym: KSCAX, KSCBX, KSCCX)
Scudder Flag Investors Communications Fund (Sym: TISHX, FTEBX, FTICX, FLICX)
Scudder Global Biotechnology Fund (Sym: DBBTX, DBBBX, DBBCX)
Scudder Gold & Precious Metals Fund (Sym: SGDAX, SGDBX, SGDCX)
Scudder Growth Fund (Sym: KGRAX, KGRBX, KGRCX)
Scudder Health Care Fund Sym: SUHAX, SUHBX, SUHCX)
Scudder Large Company Growth Fund (Sym: SGGAX, SGGBX, SGGCX, SCQRX)
Scudder Micro Cap Fund (Sym: SMFAX, SMFBX, SMFCX, MGMCX, MMFSX)
Scudder Mid Cap Fund (Sym: SMCAX, SMCBX, SMCCX, SMCRX, BTEAX, BTCAX)
Scudder Small Cap Fund (Sym: SSDAX, SSDBX, SSDCX, SSDRX, BTSCX)
Scudder Strategic Growth Fund (Sym: SCDAX, SCDBX, SCDCX, SCDIX)
Scudder Technology Fund (Sym: KTCAX, KTCBX, KTCCX, KTCIX )
Scudder Technology Innovation Fund (Sym: SRIAX, SRIBX, SRICX)
Scudder Top 50 US Fund (Sym: FAUSX, FBUSX, FCUSX)
Scudder Contrarian Fund (Sym: KDCAX, KDCBX, KDCCX, KDCRX)
Scudder-Dreman Financial Services Fund (Sym: KDFAX, KDFBX, KDFCX)
Scudder-Dreman High Return Equity Fund (Sym: KDHAX, KDHBX, KDHCX, KDHRX, KDHIX)
Scudder-Dreman Small Cap Value Fund (Sym: KDSAX, KDSBX, KDSCX, KDSRX, KDSIX)
Scudder Flag Investors Equity Partners Fund (Sym: FLEPX, FEPBX, FEPCX, FLIPX)
Scudder Growth & Income Fund (Sym: SUWAX, SUWBX, SUWCX, SUWRX, SUWIX)
Scudder Large Company Value Fund (Sym: SDVAX, SDVBX, SDVCX)
Scudder-RREEF Real Estate Securities Fund (Sym: RRRAX, RRRBX, RRRCX, RRRSX, RRRRX)
Scudder Small Company Stock Fund (Sym: SZCAX, SZCBX, SZCCX)
Scudder Small Company Value Fund (Sym: SAAUX, SABUX, SACUX)
Scudder Tax Advantaged Dividend Fund (Sym: SDDAX, SDDBX, SDDCX, SDDGX)
Scudder Flag Investors Value Builder Fund (Sym: FLVBX, FVBBX, FVBCX, FLIVX)
Scudder Focus Value+Growth Fund (Sym: KVGAX, KVGBX, KVGCX)
Scudder Lifecycle Mid Range Fund (Sym: BTLRX)
Scudder Lifecycle Long Range Fund (Sym: BTILX, BTAMX)
Scudder Lifecycle Short Range Fund (Sym: BTSRX)
Scudder Pathway Conservative Portfolio (Sym: SUCAX, SUCBX, SUCCX)
Scudder Pathway Growth Portfolio (Sym: SUPAX, SUPBX, SUPCX)
Scudder Pathway Moderate Portfolio (Sym: SPDAX, SPDBX, SPDCX)
Scudder Retirement Fund Series V (Sym: KRFEX)
Scudder Retirement Fund Series VI (Sym: KRFGX)
Scudder Retirement Fund Series VII (Sym: KRFGX)
Scudder Target 2010 Fund (Sym: KRFBX)
Scudder Target 2012 Fund (Sym: KRFCX)
Scudder Target 2013 Fund (Sym: KRFDX)
Scudder Total Return Fund (Sym: KTRAX, KTRBX, KTRCX, KTRGX)
Scudder Emerging Markets Growth Fund (Sym: SEKAX, SEKBX, SEKCX)
Scudder Emerging Markets Income Fund (Sym: SZEAX, SZEBX, SZECX)
Scudder European Equity Fund (Sym: DBEAX, DBEBX, DBECX, MEUEX, MEUVX)
Scudder Global Fund (Sym: SGQAX, SGQBX, SGQCX, SGQRX)
Scudder Global Bond Fund (Sym: SZGAX, SZGBX, SZGCX)
Scudder Global Discovery Fund (Sym: KGDAX, KGDBX, KGDCX)
Scudder Greater Europe Growth Fund (Sym: SERAX, SERBX, SERCX)
Scudder International Fund (Sym: SUIAX, SUIBX, SUICX)
Scudder International Equity Fund (Sym: DBAIX, DBBIX, DBCIX, BEIIX, BEITX, BTEQX)
Scudder International Select Equity Fund (Sym: DBISX, DBIBX, DBICX, DBITX, MGINX, MGIVX, MGIPX)
Scudder Japanese Equity Fund (Sym: FJEAX, FJEBX, FJECX)
Scudder Latin America Fund (Sym: SLANX, SLAOX, SLAPX)
Scudder New Europe Fund (Sym: KNEAX, KNEBX, KNECX, KNEIX)
Scudder Pacific Opportunities Fund (Sym: SPAOX, SBPOX, SPCCX)
Scudder Worldwide 2004 Fund (Sym: KWIVX)
Scudder Fixed Income Fund (Sym: SFXAX, SFXBX, SFXCX, SFXRF, MFINX, MFISX)
Scudder High Income Plus Fund (Sym: MGHYX, MGHVX, MGHPX)
Scudder High Income Fund (Sym: KHYAX, KHYBX, KHYCX, KHYIX)
Scudder High Income Opportunity Fund (Sym: SYOAX, SYOBX, SYOCX)
Scudder Income Fund (Sym: SZIAX, SZIBX, SZICX)
Scudder PreservationPlus Fund (Sym: BTPIX, BTPSX)
Scudder PreservationPlus Income Fund (Sym: PPIAX, PPLCX, DBPIX)
Scudder Short Term Bond Fund (Sym: SZBAX, SZBBX, SZBCX
Scudder Short Duration Fund (Sym: SDUAX, SDUBX, SDUCX, MGSFX)
Scudder Strategic Income Fund (Sym: KSTAX, KSTBX, KSTCX)
Scudder US Government Securities Fund (Sym: KUSAX, KUSBX, KUSCX)
Scudder California Tax-Free Income Fund (Sym: KCTAX, KCTBX, KCTCX)
Scudder Florida Tax-Free Income Fund (Sym: KFLAX, KFLBX, KFLCX)
Scudder High Yield Tax-Free Fund (Sym: NOTAX, NOTBX, NOTCX, NOTIX)
Scudder Intermediate Tax/AMT Free Fund (Sym: SZMAX, SZMBX, SZMCX)
Scudder Managed Municipal Bond Fund (Sym: SMLAX, SMLBX, SMLCX, SMLIX)
Scudder Massachusetts Tax-Free Fund (Sym: SQMAX, SQMBX, SQMCX)
Scudder Municipal Bond Fund (Sym: MGMBX, MMBSX)
Scudder New York Tax-Free Income Fund (Sym: KNTAX, KNTBX, KNTCX)
Scudder Short Term Municipal Bond Fund (Sym: SRMAX, SRMBX, SRMCX, MGSMX, MSMSX)
Scudder EAFE ® Equity Index Fund (Sym: BTAEX, BTIEX)
Scudder Equity 500 Index Fund (Sym: BTIIX)
Scudder S&P 500 Stock Fund (Sym: KSAAX, KSABX, KSACX)
Scudder Select 500 Fund (Sym: OUTDX, OUTBX, OUTBX, OUTRX
Scudder US Bond Index Fund (Sym: BTUSX )
Scudder Cash Reserves Fund
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