Dude,Wheres My Mutual Fund
Companies that shovel mutual fund dollars into online gambling websites should be taken out and shot. Atleast thats my ridiculous opinion. Seriously though what was this company thinking? I mean really this is outrageous and has jail time written all over it.
American Century Cos. Inc. and its directors have been sued in San Francisco by a shareholder who alleges that the company invested in illegal online gambling companies that the federal government cracked down on in 2006.
The Kansas City-based mutual fund company’s alleged investments in various online gambling Web sites and the subsequent law enforcement action taken against those sites ruined the investments and caused shareholders to lose value on their shares in the American Century Ultra Fund, according to the complaint.
None of the illegal Web sites was named in the suit, but New York lawyer Thomas Sheridan, who represents the plaintiff, New York resident and American Century Ultra Fund investor Laura Seidl, said Thursday that one of the sites was Gibraltar-based Partygaming.com.