Western Asset Mutual Funds Class Action Lawsuit Filed for Investors in WAMCO Mutual Funds

Strategic Insights -

Western Asset, a manager of mutual funds, allegedly failed to warn investors about a lack of fair allocation of investment opportunities among various investment strategies, leading to artificially reduced prices of certain funds during the class period. A class action lawsuit has been filed on behalf of investors who purchased the "Western Asset US Core Bond Fund" and "Western Asset Core Plus Bond Fund" mutual funds during the period between January 1, 2021, and October 31, 2023.

Key Takeaways:

  • The lawsuit claims that Western Asset failed to warn investors about the lack of fair allocation of investment opportunities among various investment strategies, including Macro Opps, Core, and Core Plus.
  • The case involves six mutual fund classes: Class I (WATFX), Class A (WABAX), Class C (WABCX), Class FI (WAPIX), Class IS (WACSX), and Class R (WABRX) of the "Western Asset US Core Bond Fund".
  • Additionally, it involves six mutual fund classes of the "Western Asset Core Plus Bond Fund": Class A (WAPAX), Class C (WAPCX), Class C1 (LWCPX), Class FI (WACIX), Class R (WAPRX), and Class I (WACPX).
  • Investors who purchased these funds during the class period may be entitled to compensation without paying any out-of-pocket fees or costs.
  • The lawsuit was filed by the Rosen Law Firm, a global investor rights law firm, and has already been certified as a class action.
  • Lead plaintiff candidates must move the court by September 5, 2025, to participate in the litigation.
  • The Rosen Law Firm has a successful track record in securities class actions and shareholder derivative litigation, recovering hundreds of millions of dollars in settlements.

Statistics:

  • The case involves a period from January 1, 2021, to October 31, 2023.
  • Six mutual fund classes are involved in the "Western Asset US Core Bond Fund": Class I (WATFX), Class A (WABAX), Class C (WABCX), Class FI (WAPIX), Class IS (WACSX), and Class R (WABRX).
  • Six mutual fund classes are involved in the "Western Asset Core Plus Bond Fund": Class A (WAPAX), Class C (WAPCX), Class C1 (LWCPX), Class FI (WACIX), Class R (WAPRX), and Class I (WACPX).
  • Investors who purchased these funds during the class period may be entitled to compensation without paying any out-of-pocket fees or costs.
  • The lawsuit was filed by the Rosen Law Firm, a global investor rights law firm.

Sources:

  • "Western Asset US Core Bond Fund" and "Western Asset Core Plus Bond Fund" mutual funds
  • Rosen Law Firm, a global investor rights law firm
  • https://rosenlegal.com/submit-form/?case_id=31956
  • Phillip Kim, Esq., case@rosenlegal.com, (212) 686-1060