In Re American Funds Securities Litigation

MEMORANDUM AND ORDER REGARDING DEFENDANTS’ MOTION TO DISMISS CONSOLIDATED AMENDED COMPLAINT

GARY ALLEN FEESS, District Judge.

I

INTRODUCTION

In this putative securities class action, Plaintiff investors allege that, during the relevant time period, the Capital Group Companies, Inc. and other entities that collectively make up the American Funds mutual fund family engaged in practices with brokerage firms that deprived investors of conflict-free advice and depleted mutual fund assets. The alleged scheme consists of two principal elements. First, Plaintiffs allege that American Funds charged its…