| Company: | Principal Financial Group, Inc. |
| Ticker Symbol: | NYSE: PFG |
| Class Period:: | August 28, 2002 to August 28, 2007 |
| Date Filed: | Sep-14-07 |
| Lead Plaintiff Deadline: | Nov-12-07 |
| Court: | Southern District, IA |
| Allegations: |
A class action lawsuit was commenced on August 28, 2007, on behalf of those who rolled over Principal 401(k) retirement accounts into Principal J-Shares class mutual funds IRAs during the period August 28, 2002 through August 28, 2007 (the "Class Period"). The complaint alleges violations of federal securities laws, including Section 10(b) of the Securities Exchange Act of 1934.
The case numbered 4:07-cv-00386, is pending in the Unites States District Court for the Southern District of Iowa, against defendants Principal Financial Group, Inc. and Princor Financial Services Corporation. Copies of the Complaint can be obtained from the office of the Clerk of Court for the said Southern District of Iowa, in Des Moines, Iowa.
The complaint alleges that during the Class Period, defendants persuaded Principal 401(k) participants to rollover their 401(k) accounts into Principal J-Shares class mutual funds IRAs. The complaint also alleges that defendants took advantage of Principal 401(k) participants by misleading them into believing they were receiving advice from their 401(k) plain administrators when in fact they were receiving advice from defendants' sales counselors who were being paid undisclosed commissions to push 401(k) participants into J-Shares class mutual funds IRAs. The J-Shares class mutual funds charged higher expenses than Principal 401(k) accounts causing financial harm to those who purchased them.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The case numbered 4:07-cv-00386, is pending in the Unites States District Court for the Southern District of Iowa, against defendants Principal Financial Group, Inc. and Princor Financial Services Corporation. Copies of the Complaint can be obtained from the office of the Clerk of Court for the said Southern District of Iowa, in Des Moines, Iowa.
The complaint alleges that during the Class Period, defendants persuaded Principal 401(k) participants to rollover their 401(k) accounts into Principal J-Shares class mutual funds IRAs. The complaint also alleges that defendants took advantage of Principal 401(k) participants by misleading them into believing they were receiving advice from their 401(k) plain administrators when in fact they were receiving advice from defendants' sales counselors who were being paid undisclosed commissions to push 401(k) participants into J-Shares class mutual funds IRAs. The J-Shares class mutual funds charged higher expenses than Principal 401(k) accounts causing financial harm to those who purchased them.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
