Back to Search Start Over

Fidelity Faces Lawsuit.

Authors :
Levitz, Jennifer
Source :
Wall Street Journal - Eastern Edition. 6/11/208, Vol. 251 Issue 136, pC17. 0p.
Publication Year :
2008

Abstract

The article reports that Fidelity Investments is being sued due to the losses it incurred in the Fidelity Ultra-Short bond fund, which made investments in risky mortgage-backed securities. The class action suit filed before the U.S. District Court in Boston, Masschusetts claims that the mutual fund used misleading means in promoting the fund as a safe alternative to cash and that the firm did not sufficiently reveal the risks involved. The said fund is down 6.6% for 2008.

Details

Language :
English
ISSN :
00999660
Volume :
251
Issue :
136
Database :
Academic Search Index
Journal :
Wall Street Journal - Eastern Edition
Publication Type :
News
Accession number :
32693959