Spector, Roseman & Kodroff, P.C. Announces the Filing of a Class Action Suit Against FleetBoston Financial Corporation and Certa
12 March 2004 - 8:32AM
PR Newswire (US)
Spector, Roseman & Kodroff, P.C. Announces the Filing of a
Class Action Suit Against FleetBoston Financial Corporation and
Certain of its Affiliates on Behalf of Purchasers of the Securities
of the Columbia Family of Funds PHILADELPHIA, March 11 /PRNewswire/
-- The law firm of Spector, Roseman & Kodroff, P.C. announces
that a class action lawsuit was commenced in the United States
District Court for the District of Massachusetts on behalf of
purchasers, redeemers and holders of shares of Columbia Family of
Mutual Funds ("Columbia" or the "Company"), between February 13,
1999 through January 14, 2004, inclusive (the "Class Period"). The
following Columbia Funds are subject to this lawsuit: Columbia
Acorn Fund (NASDAQ:LACAXNASDAQ:LACBXNASDAQ:LIACXNASDAQ:ACRNX)
Columbia Acorn Select
(NASDAQ:LTFAXNASDAQ:LTFBXNASDAQ:LTFCXNASDAQ:ACTWX) Columbia Acorn
USA (NASDAQ:LAUAXNASDAQ:LAUBXNASDAQ:LAUCXNASDAQ:AUSAX) Columbia
Asset Allocation Fund
(NASDAQ:LAAAXNASDAQ:LAABXNASDAQ:LAACXNASDAQ:GBAAXNASDAQ:GAAAXNASDAQ:GAATX)
Columbia Balanced Fund
(NASDAQ:CBLAXNASDAQ:CBLBXNASDAQ:CBLCXNASDAQ:CBLDXNASDAQ:CBALX)
Columbia Common Stock Fund
(NASDAQ:CMSAXNASDAQ:CMSBXNASDAQ:CCSCXNASDAQ:CMSDXNASDAQ:CMSTX)
Columbia Disciplined Value Fund
(NASDAQ:LEVAXNASDAQ:LEVBXNASDAQ:LEVCXNASDAQ:GEVBXNASDAQ:GALEXNASDAQ:GEVTX)
Columbia Dividend Income Fund
(NASDAQ:LBSAXNASDAQ:LBSBXNASDAQ:LBSCXNASDAQ:GEQBXNASDAQ:GEQAXNASDAQ:GSFTX)
Columbia Growth & Income Fund
(NASDAQ:CFGAXNASDAQ:CFGBXNASDAQ:CFGDXNASDAQ:LGISX) Columbia Growth
Fund
(NASDAQ:CGWAXNASDAQ:CGWBXNASDAQ:CGWCXNASDAQ:CGWDXNASDAQ:CGWGXNASDAQ:CLMBX)
Columbia Growth Stock Fund
(NASDAQ:CGSAXNASDAQ:CGSBXNASDAQ:CGSCXNASDAQ:SRFSX) Columbia Large
Cap Core Fund
(NASDAQ:LCCAXNASDAQ:LCCBXNASDAQ:LCCCXNASDAQ:GGRBXNASDAQ:SGIEXNASDAQ:SMGIX)
Columbia Large Cap Growth Fund
(NASDAQ:LEGAXNASDAQ:LEGBXNASDAQ:LEGCXNASDAQ:GBEGXNASDAQ:GAEGXNASDAQ:GEGTX)
Columbia Large Company Index Fund
(NASDAQ:LLIAXNASDAQ:LLIBXNASDAQ:LLICXNASDAQ:ILCIX) Columbia Liberty
Fund (NASDAQ:COLFXNASDAQ:CCFBXNASDAQ:CTCCXNASDAQ:CTCFX) Columbia
Mid Cap Growth Fund
(NASDAQ:CBSAXNASDAQ:CBSBXNASDAQ:CMCCXNASDAQ:CBSDXNASDAQ:CBSGXNASDAQ:CBSTXNASDAQ:CLSPX)
Columbia Mid Cap Value Fund
(NASDAQ:COLGXNASDAQ:COGBXNASDAQ:CSVCXNASDAQ:LSVSX) Columbia Real
Estate Equity Fund
(NASDAQ:CREAXNASDAQ:CREBXNASDAQ:CRECXNASDAQ:CREDXNASDAQ:CREEX)
Columbia Small Cap Fund
(NASDAQ:LSMAXNASDAQ:LSMBXNASDAQ:LSMCXNASDAQ:GBSMXNASDAQ:SSCEXNASDAQ:SMCEX)
Columbia Small Cap Growth Fund (NASDAQ:CMSCX) Columbia Small Cap
Value Fund (NASDAQ:CSMIXNASDAQ:CSSBXNASDAQ:CSSCXNASDAQ:CSCZX)
Columbia Small Company Equity Fund
(NASDAQ:LSEAXNASDAQ:LSEBXNASDAQ:LSECXNASDAQ:GERBXNASDAQ:GASEXNASDAQ:GSETX)
Columbia Small Company Index Fund
(NASDAQ:LBIAXNASDAQ:LBIBXNASDAQ:LBICXNASDAQ:ISCIX) Columbia
Strategic Investor Fund
(NASDAQ:CSVAXNASDAQ:CSVBXNASDAQ:CSRCXNASDAQ:CSVDXNASDAQ:CSVFX)
Columbia Tax-Managed Aggressive Growth Fund
(NASDAQ:LTMAXNASDAQ:LTAGXNASDAQ:LTACXNASDAQ:LTAZX) Columbia
Tax-Managed Growth Fund
(NASDAQ:STMAXNASDAQ:CTMBXNASDAQ:CTMCXNASDAQ:LMGZX) Columbia
Tax-Managed Growth Fund II
(NASDAQ:LTGAXNASDAQ:LTIIXNASDAQ:LTGCXNASDAQ:LTGZX) Columbia
Tax-Managed Value Fund
(NASDAQ:SRVAXNASDAQ:CTMVXNASDAQ:LTVCXNASDAQ:LTMZX) Columbia
Technology Fund
(NASDAQ:CTCAXNASDAQ:CTCBXNASDAQ:CTHCXNASDAQ:CTCDXNASDAQ:CMTFX)
Columbia Thermostat Fund
(NASDAQ:CTFAXNASDAQ:CTFBXNASDAQ:CTFDXNASDAQ:COTZX) Columbia
Utilities Fund (NASDAQ:CUTLXNASDAQ:CUTBXNASDAQ:CUTFXNASDAQ:LUFZX)
Columbia Young Investor Fund
(NASDAQ:LYIAXNASDAQ:LYIBXNASDAQ:LYICXNASDAQ:SRYIX) Columbia Acorn
International Fund
(NASDAQ:LAIAXNASDAQ:LIABXNASDAQ:LAICXNASDAQ:ACINX) Columbia Acorn
International Select Fund
(NASDAQ:LAFAXNASDAQ:LFFBXNASDAQ:LFFCXNASDAQ:ACFFX) Columbia Europe
Fund (NASDAQ:NEUAXNASDAQ:LNEBXNASDAQ:LNECXNASDAQ:LNEZX) Columbia
European Thematic Equity Fund (NASDAQ:LSREX) Columbia Global Equity
Fund (NASDAQ:CGUAXNASDAQ:CGUBXNASDAQ:CGUCX) Columbia Global
Thematic Equity Fund (NASDAQ:LSRGX) Columbia International Equity
Fund
(NASDAQ:LIEAXNASDAQ:LIEBXNASDAQ:LIECXNASDAQ:GBIEXNASDAQ:GAIEXNASDAQ:GIETX)
Columbia International Stock Fund
(NASDAQ:CISAXNASDAQ:CISBXNASDAQ:CSKCXNASDAQ:CISDXNASDAQ:CMISX)
Columbia Newport Asia Pacific Fund
(NASDAQ:NWAPXNASDAQ:LNABXNASDAQ:LNACXNASDAQ:LAPSX) Columbia Newport
Japan Opportunities Fund
(NASDAQ:NJOAXNASDAQ:NJOBXNASDAQ:NJOCXNASDAQ:LNJZX) Columbia Newport
Greater China Fund
(NASDAQ:NGCAXNASDAQ:NGCBXNASDAQ:NGCCXNASDAQ:LNGZX) Columbia Newport
Tiger Fund
(NASDAQ:CNTAXNASDAQ:CNTBXNASDAQ:CNTDXNASDAQ:CNTTXNASDAQ:CNTZX)
Columbia Contrarian Income Fund
(NASDAQ:CHINXNASDAQ:LCIBXNASDAQ:LCICXNASDAQ:LCIZX) Columbia
Corporate Bond Fund
(NASDAQ:LBCAXNASDAQ:LBCBXNASDAQ:LBCCXNASDAQ:GCBTX) Columbia Daily
Income Company Fund (NASDAQ:CDIXX) Columbia Federal Securities Fund
(NASDAQ:CFSAXNASDAQ:CFSOXNASDAQ:CFSCXNASDAQ:LFSZX) Columbia Fixed
Income Securities Fund
(NASDAQ:CFIAXNASDAQ:CFIBXNASDAQ:CISCXNASDAQ:CFIDXNASDAQ:CFISX)
Columbia Floating Rate Advantage Fund
(NASDAQ:XSFRXNASDAQ:XSFBXNASDAQ:XLACXNASDAQ:XLAZX) Columbia
Floating Rate Fund
(NASDAQ:XLFAXNASDAQ:XLSBXNASDAQ:XLFCXNASDAQ:XLFZX) Columbia High
Yield Fund
(NASDAQ:CHGAXNASDAQ:CHGBXNASDAQ:CHDCXNASDAQ:CHGDXNASDAQ:CMHYX)
Columbia High Yield Opportunity Fund
(NASDAQ:COLHXNASDAQ:COHBXNASDAQ:CHYCXNASDAQ:LHYZX) Columbia Income
Fund (NASDAQ:LIIAXNASDAQ:CIOBXNASDAQ:CIOCXNASDAQ:SRINX) Columbia
Intermediate Bond Fund
(NASDAQ:LIBAXNASDAQ:LIBBXNASDAQ:LIBCXNASDAQ:SRBFX) Columbia
Intermediate Government Income Fund
(NASDAQ:LIGAXNASDAQ:LIGBXNASDAQ:LIGCXNASDAQ:GGIBXNASDAQ:GALBXNASDAQ:GIBTX)
Columbia Money Market Fund
(NASDAQ:CMMXXNASDAQ:CMBXXNASDAQ:CMCXXNASDAQ:LMZXX) Columbia Quality
Plus Bond Fund
(NASDAQ:LQPAXNASDAQ:LQPBXNASDAQ:LQPCXNASDAQ:GBHQXNASDAQ:GAHQXNASDAQ:GHQTX)
Columbia Short Term Bond Fund
(NASDAQ:CTBAXNASDAQ:CTBBXNASDAQ:CSHCXNASDAQ:CTBDXNASDAQ:CTBGXNASDAQ:CTBTXNASDAQ:CUGGX)
Columbia Strategic Income Fund
(NASDAQ:COSIXNASDAQ:CLSBXNASDAQ:CLSCXNASDAQ:LSIZX) Columbia US
Treasury Index Fund
(NASDAQ:LUTAXNASDAQ:LUTBXNASDAQ:LUTCXNASDAQ:IUTIX) Columbia
California Tax-Exempt Fund (NASDAQ:CLMPXNASDAQ:CCABXNASDAQ:CCAOX)
Columbia Connecticut Intermediate Municipal Bond
(NASDAQ:LCTAXNASDAQ:LCTBXNASDAQ:LCTCXNASDAQ:GCBBXNASDAQ:GCBAXNASDAQ:SCTEX)
Columbia Connecticut Tax-Exempt Fund
(NASDAQ:COCTXNASDAQ:CCTBXNASDAQ:CCTCX) Columbia Florida
Intermediate Municipal Bond Fund
(NASDAQ:LFIAXNASDAQ:LFIBXNASDAQ:LFICXNASDAQ:SFTEX) Columbia High
Yield Municipal Fund
(NASDAQ:LHIAXNASDAQ:CHMBXNASDAQ:CHMCXNASDAQ:SRHMX)
ColumbiaIntermediate Tax-Exempt Bond Fund
(NASDAQ:LITAXNASDAQ:LITBXNASDAQ:LITCXNASDAQ:GIMBXNASDAQ:GIMAXNASDAQ:SETMX)
Columbia Managed Municipals Fund
(NASDAQ:LMMAXNASDAQ:LMMBXNASDAQ:LMMCXNASDAQ:SRMMX) Columbia
Massachusetts Intermediate Municipal Bond Fund
(NASDAQ:LMIAXNASDAQ:LMIBXNASDAQ:LMICXNASDAQ:GMBBXNASDAQ:GMBAXNASDAQ:SEMAX)
Columbia Massachusetts Tax-Exempt Fund
(NASDAQ:COMAXNASDAQ:CMABXNASDAQ:COMCX) Columbia Municipal Money
Market Fund (NASDAQ:CXMXXNASDAQ:CMNXXNASDAQ:CMXXXNASDAQ:CMZXX)
Columbia National Municipal Bond Fund
(NASDAQ:CNLAXNASDAQ:CNLBXNASDAQ:CNBCXNASDAQ:CNLDXNASDAQ:CLNMX)
Columbia New Jersey Intermediate Municipal Bond Fund
(NASDAQ:LNIAXNASDAQ:LNIBXNASDAQ:LNICXNASDAQ:GNJBXNASDAQ:GNJAXNASDAQ:GNJTX)
Columbia New York Intermediate Municipal Bond Fund
(NASDAQ:LNYAXNASDAQ:LNYBXNASDAQ:LNYCXNASDAQ:GBNYXNASDAQ:GANYXNASDAQ:GNYTX)
Columbia New York Tax-Exempt Fund
(NASDAQ:COLNXNASDAQ:CNYBXNASDAQ:CNYCX) Columbia Oregon Municipal
Bond Fund
(NASDAQ:COEAXNASDAQ:COEBXNASDAQ:CORCXNASDAQ:COEDXNASDAQ:CMBFX)
Columbia Pennsylvania Intermediate Municipal Bond Fund
(NASDAQ:LPIAXNASDAQ:LPIBXNASDAQ:LPICXNASDAQ:GTPAX) Columbia Rhode
Island Intermediate Municipal Bond Fund
(NASDAQ:LRIAXNASDAQ:LRIBXNASDAQ:LRICXNASDAQ:GRBBXNASDAQ:GRBAXNASDAQ:GRITX)
Columbia Tax-Exempt Fund (NASDAQ:COLTXNASDAQ:CTEBXNASDAQ:COLCX)
Columbia Tax-Exempt Insured Fund
(NASDAQ:CEXIXNASDAQ:CEIBXNASDAQ:CEINX) The Complaint charges
FleetBoston Financial Corporation, Columbia Management Group, Inc.,
Columbia Management Advisors, Inc., Columbia Wanger Asset
Management, L.P., the Columbia Funds, and the Doe Defendants with
violations of the Securities Act of 1933, the Securities Exchange
Act of 1934, the Investment Company Act of 1940, and with common
law fiduciaryduties. Specifically, the Complaint alleges that
during the Class Period the defendants engaged in illegal and
improper trading practices, which caused financial injury to the
Shareholders of the Columbia Mutual Funds. According to the
Complaint, theDefendants surreptitiously permitted certain favored
investors, to illegally engage in "market timing" of the Columbia
Mutual Funds whereby favored investors were permitted to conduct
short-term, "in and out" trading of mutual fund shares, despite
explicit restrictions on such activity in the Columbia Family of
Mutual Funds' prospectuses. If you purchased shares of mutual funds
managed by Columbia during the Class Period, you may, no later than
April 13, 2004, move to be appointed as a Lead Plaintiff in this
class action. A Lead Plaintiff is a representative, chosen by the
Court, that acts on behalf of other class members in directing the
litigation. The Private Securities Litigation Reform Act of 1995
directs Courts to assume that the class member(s) with the "largest
financial interest" in the outcome of the case will best serve the
class in this capacity. Courts have discretion in determining which
class member(s) have the "largest financial interest," and have
appointed Lead Plaintiffs with substantial losses in both absolute
terms and as a percentage of their net worth. If you have sustained
substantial losses in Columbia Family of Mutual Funds during the
Class Period, please contact Spector, Roseman & Kodroff, P.C.
at for a more thorough explanation of the Lead Plaintiff selection
process. If you have relatively small losses, your ability to
participate in any recovery will be protected by the Lead
Plaintiff(s), and you need take no affirmative steps at this time.
If you wish to join this action, please visit
http://www.srk-law.com/dbjoinaclassaction.asp. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact plaintiff's counsel Robert
M. Roseman toll-free at888-844-5862 or via e-mail at . For more
detailed information about the firm please visit its website at
http://www.srk-law.com/. Spector, Roseman & Kodroff, P.C.,
located in Philadelphia, Pennsylvania, concentrates its practice in
complex litigation including actions dealing with securities laws,
antitrust, contract and commercial claims. The firm is active in
major litigation pending in federal and state courts throughout the
United States. The firm's reputation for excellence has been
recognized on repeated occasions by courts which have appointed the
firm as lead counsel in numerous major class actions involving
violations of the federal securities laws and the federal antitrust
laws, and consumer fraud. As a result of the efforts of the firm,
and its members, hundreds of millions of dollars have been
recovered on behalf of thousands of defrauded shareholders and
companies. CONTACT: Robert M. Roseman - +1-888-844-5862.
DATASOURCE: Spector, Roseman & Kodroff, P.C. CONTACT: Robert M.
Roseman of Spector Roseman & Kodroff, +1-888-844-5862 Web site:
http://www.srk-law.com/
http://www.srk-law.com/dbjoinaclassaction.asp
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