Allianz Global Investors U.S. LLC: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 03, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Allianz Global Investors U.S. LLC (“AllianzGI” or the “Company”) (NASDAQ: APBIX) (NASDAQ: APBPX) (NASDAQ: APBRX) (NASDAQ: APKIX) (NASDAQ: APKPX) (NASDAQ: APKRX) (NASDAQ: AZIAX) (NASDAQ: AZICX) (NASDAQ: AZIIX) (NASDAQ: AZIPX) (NASDAQ: AZIRX) (NASDAQ: AZUAX) (NASDAQ: AZUCX) (NASDAQ: AZUIX) (NASDAQ: AZUPX) that a class action has been filed on behalf of investors. AllianzGI investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The Complaint alleges, inter alia, that AllianzGI committed securities fraud from 2015 through 2020 through a scheme to defraud prospective and current Mutual Fund investors by making false and misleading statements that substantially understated the risks being taken by the Mutual Funds. Instead of managing the Mutual Funds as represented, the Complaint alleges that AllianzGI prioritized returns over risk management in ways that were fundamentally inconsistent with AllianzGI’s representations concerning the Mutual Funds Principal Investment Strategies. AllianzGI and its managers engaged in this conduct, the Complaint alleges, to increase the compensation paid to AllianzGI as investment manager and to its employees as portfolio managers of the Mutual Funds. The Complaint also alleges that AllianzGI acted negligently and breached its fiduciary duties to investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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