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TWVLX LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of American Century Capital Portfolios, Inc. Shareholders
December 02, 2021 8:32 PM EST | Source: Jakubowitz Law
New York, New York--(Newsfile Corp. - December 2, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of American Century Capital Portfolios, Inc. (NASDAQ: TWVLX).
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This lawsuit is on behalf of all investors who purchased or otherwise acquired TWVLX, AVLIX, AVUYX, TWADX, ACLCX, AVURX, AVUGX, and AVUDX pursuant and or traceable to registration statements and prospectuses filed between November 5, 2018 and the present.
Shareholders interested in representing the class of wronged shareholders have until January 10, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, American Century Capital Portfolios, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Fund's investment strategy was neither to identify companies whose stock price may not reflect the company's value, nor to purchase the stocks of these undervalued companies and hold each stock until the price has increased to, or is higher than, a level the managers believe more accurately reflects the fair value of the company; (ii) Defendants were not actively managing the Fund (which allegedly included researching and selecting investments for the Fund); (iii) Defendants employed an investment strategy designed to closely track the performance of the Fund's stated benchmark index, the Russell 1000 Value index, known as "closet indexing"; (iv) Defendants had no reason to charge substantial fees to the Fund for this purportedly active management while engaging in closet indexing; (v) the excessive fees virtually ensured that the Fund could not match its benchmark over time, let alone outperform it; and (vi) as a result, the Fund would consistently fail to meet or outperform its benchmark index.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106419