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SGT Announces $145 Million Class Action Settlement for AllianzGI Mutual Fund Investors

November 1, 2022

On November 1, 2022, SGT filed a motion seeking preliminary approval of a $145 million class action settlement reached on behalf of a putative class of former investors in a series of mutual funds managed by Allianz Global Investors U.S. LLC ("AllianzGI"). The settlement resolves claims relating to the mismanagement of the mutual funds' assets by several employees of AllianzGI that comprised the "Structured Products Group" who have been criminally charged by the SEC and DOJ.

The case is Jackson v. Allianz Global Investors U.S. LLC, Index No. 651233/2021 (N.Y.S.), and is currently pending before Justice Andrew Borrok of the New York State Supreme Court, New York County Commercial Division.

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