Two more suits filed against Strong
Thursday, September 11, 2003
Two more class action lawsuits were filed Wednesday against Strong Capital Management Inc. in connection with New York Attorney General Eliot Spitzer’s allegations that the Menomonee Falls investment company allowed a New Jersey hedge fund to engage in market timing with five of its mutual funds.
One suit was filed in Waukesha County by participants in the Edvest Section 529 College Savings Program against Strong, the New Jersey hedge fund, and the Wisconsin College Savings Board Program.
The other was filed by Jenell Marie Halverson against all of Strong’s mutual funds, the New Jersey hedge fund and related parties.
Both rely on information contained in Spitzer’s complaint and accuse the defendants of violating securities laws and breaching their fiduciary responsibility.
