NEW YORK--(BUSINESS WIRE)--Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential claims on behalf of all holders of the PIMCO Total Return Fund (NYSE Arca:BOND). The fund is an actively managed Exchange Traded Fund (“ETF”) that invests in a diversified portfolio of fixed income instruments.
The Wall Street Journal first reported on September 23, 2014 that Federal regulators were examining how PIMCO management assigned asset prices at the PIMCO Total Return Fund. The issues being probed by the Securities and Exchange Commission (“SEC”) include whether the $3.6 billion exchange-traded fund bought investments at discounted prices while relying on higher valuations for the assets when the fund calculated the value of its holdings.
Subsequently, on August 3, 2015, PIMCO management stated that it received a Wells Notice from the staff of the SEC that relates to the PIMCO Total Return Exchange-Traded Fund. The notice indicated the staff's preliminary determination to recommend that the SEC commence a civil action against PIMCO stemming from a nonpublic investigation relating to BOND. According to PIMCO the matter principally pertains to the valuation of smaller sized positions in non-agency mortgage-backed securities purchased by BOND between its inception on February 29, 2012 and June 30, 2012, the fund’s performance disclosures for that period, and the firm’s compliance policies and procedures related to these matters.
If you purchased the PIMCO Total Return Fund (NYSE Arca:BOND) at any time since its inception on February 29, 2012 and are concerned how these actions by PIMCO management have affected shareholders of the PIMCO Total Return Fund, please contact Gregory Nespole, Esq. or Gregory Stone immediately by telephone at (800) 575-0735 or via e-mail at gstone@whafh.com or classmember@whafh.com. Please reference “PIMCO investigation” in your email.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. Additional information may be obtained by accessing our website at www.whafh.com.
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