The Complaint charges that Bank of America and its affiliates violated federal securities laws by not disclosing that certain large investors were being allowed to (1) trade after the close of trading without being subject to the "forward pricing" rule (applying the following day's price) and (2) engage in short-term "in and out" trading in the funds. The Complaint alleges these types of practices in its Nations Funds family of mutual funds, including the following: Nations Convertible (PACIX), Nations International Equity (NIIAX, NIENX, NITRX, NIEQX, NIEPX), Nations Emerging Markets (NEMIX, NEMAX, NEMCX, NEKBX) and Nations Small Cap (NMSAX, NMSCX, NSVAX). These types of advantageous trading hurt investors who are subject to tighter restrictions. The Complaint charges that the defendants misrepresented in the Nations Funds' registration statements and prospectuses that the funds would not permit such practices.

The Complaint charges that as a result of defendants' actions, plaintiff and the Class were damaged.

In addition, Weiss and Lurie represents investors in mutual funds sold by Janus Capital Corporation, Bank One and Strong Capital Management, and intends to file similar actions on behalf of those investors.