Fred Alger Management, Inc. ("Alger")
Chimicles & Tikellis LLP is assisting Lead Fund Derivative Counsel in prosecuting claims on behalf of the Alger family of funds (the “Funds”), operated by Fred Alger Management, Inc. and its subsidiaries and affiliates, based on allegations of “market timing” and/or “late trading” in the Funds. The claims on behalf of the Funds have been coordinated with claims on behalf of investors, as well as other claims, in the In re Mutual Funds Investment Litigation, MDL 1586, which is pending in the United States District Court for the District of Maryland and involves allegations of market timing and/or late trading in sixteen fund families.
The United States District Court for the District of Maryland upheld Fund Derivative Plaintiffs’ claims under Section 36(b) of the Investment Company Act and Lead Fund Derivative Counsel, with assistance from Chimicles & Tikellis, is currently engaged in prosecuting those claims on behalf of the Funds.
Additional information on the MDL as a whole is available here.
Please contact us if you are an investor in the Fund and would like to learn more about the cases and possibly become a named plaintiff in a derivate lawsuit filed on behalf of the Fund.
The Funds, and the symbols for the respective Funds named below, are as follows:
Alger SmallCap Portfolio (Sym: ALSAX, ALSCX, AGSCX)
Alger SmallCap and MidCap Portfolio (Sym: ALMAX , ALMBX, ALMCX )
Alger MidCap Growth Portfolio (Sym: AMGAX, AMCGX, AMGCX)
Alger LargeCap Growth Portfolio (Sym: ALGAX, AFGPX, ALGCX)
Alger Capital Appreciation Portfolio (Sym: ACAAX, ACAPX, ALCCX)
Alger Health Sciences Portfolio (Sym: AHSAX, AHSBX, AHSCX)
Alger Balanced Portfolio (Sym: ALBAX, ALGBX, ALBCX)
Alger Small Cap Institutional Fund (Sym: ALSRX, ASIRX)
Alger MidCap Institutional Fund (Sym: ALMRX, ALGRX)
Alger LargeCap Growth Institutional Fund (Sym: ALGRX, ALGIX)
Alger Capital Appreciation Institutional Fund (Sym: ALARX, ACARX)
Alger Balanced Institutional Fund (Sym: ABLRX, ABIRX)
Alger Socially Responsible Growth Institutional Fund (Sym: ASRGX, ASRRX)
Spectra Fund (Sym: SPEAX, SPECX)