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Johnson & Perkinson Announces Class Action Lawsuiton Behalf of Janus Mutual Fund Purchasers.

Business Editors/Legal Writers


The law firm of Johnson & Perkinson announces that it is filing a class action lawsuit on behalf of purchasers of the securities of the Janus Funds family of funds (the "Funds") owned and operated by Janus Capital Group, Inc. and its subsidiaries and affiliates, between October 1, 1998 and July 3, 2003, inclusive, (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934, the Securities Act of 1933 and the Investment Advisers Act of 1940. A copy of the complaint filed in this action is available from the Court, or can be viewed on Johnson & Perkinson's website at:

The Funds, and the symbols for the respective Funds named below, are as follows:

Janus Fund (JANSX) Janus Enterprise Fund (JAENX) Janus Mercury Fund (JAMRX) Janus Olympus Fund (JAOLX) Janus Global Technology Fund (JAGTX) Janus Orion Fund (JORNX) Janus Twenty Fund (JAVLX) Janus Venture Fund (JAVTX) Janus Global Life Sciences Fund (JAGLX) Janus Global Value Fund (JGVAX) Janus Overseas Fund (JAOSX) Janus Worldwide Fund (JAWWX) Janus Balanced Fund (JABAX) Janus Core Equity Fund (JAEIX) Janus Growth and Income Fund (JAGIX) Janus Special Equity Fund (JSVAX) Janus Risk-Managed Stock Fund (JRMSX) Janus Mid Cap Value Fund (JMCVX, JMIVX) Janus Small CapValue Fund (JSCVX, JSIVX)

Janus Federal Tax-Exempt Fund (JATEX)

Janus Flexible Income Fund (JAFIX) Janus High-Yield Fund (JAHYX) Janus Short-Term Bond Fund (JASBX)

Janus Money Market Fund (JAMXX) Janus Government Money Market Fund (JAGXX) Janus Tax-Exempt Money Market Fund (JATXX)

The action is being filed in the United States District Court for the District of Colorado against defendants Janus Capital Group Inc.; Janus Capital Corporation; Janus Capital Management, LLC; Janus Investment Fund; Edward J. Stern; Canary Capital Partners, LLC; Canary Investment Management, LLC; Canary Capital Partners, Ltd.; each of the Funds; and John Does 1-100.

The Complaint alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, defendants failed to disclose that they improperly allowed certain hedge funds, such as Canary, to engage in the "timing" of their transactions in the Funds' securities. Timing is excessive, arbitrage trading undertaken to turn a quick profit. Timing injures ordinary mutual fund investors -- who are not allowed to engage in such practices -- and is acknowledged as an improper practice by the Funds. In return for receiving extra fees from Canary and other favored investors, Janus Capital Group Inc. and its subsidiaries allowed and facilitated Canary's timing activities, to the detriment of class members, who paid, dollar for dollar, for Canary's improper profits. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing.

If you bought the securities of any of the Funds between October 1, 1998 and July 3, 2003 and sustained damages, you may, no later than November 4, 2003, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Johnson & Perkinson, or other counsel of your choice, to serve as your counsel in this action.

Johnson & Perkinson is a litigation boutique dedicated to maximizing shareholders' returns and keeping the lead plaintiffs involved in the litigation. Attorneys Dennis Johnson and Jacob Perkinson are both former employees of the Securities and Exchange Commission. In particular, Mr. Johnson was an attorney with the enforcement division of the SEC from 1980-1985. Members of the firm have prosecuted complex class actions on behalf of plaintiffs in the areas of securities and consumer fraud since 1985. Based in South Burlington, Vermont, the firm has prosecuted leading actions on behalf of defrauded investors against numerous public companies resulting in the recovery of many millions of dollars and has been singled out for its excellence by various courts. The firm is currently lead or co-lead counsel in securities class actions pending against Xerox, Priceline, i2, Nortel, Allaire, and Exchange Applications and serves on the Executive Committee in the Global Crossing case. Please contact the Johnson & Perkinson website for more information about the firm. If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters, please contact: James Conway, Esq., at Johnson & Perkinson, 1690 Williston Road, P.O. Box 2305, South Burlington, VT 05403, toll free at 1-877-266-2133 or via e-mail at
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Publication:Business Wire
Geographic Code:1USA
Date:Oct 22, 2003
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