Western Asset Management Company (US Core Bond Funds and Core Plus Bond Funds)

Case Overview
32 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 09/02/2025 |
Status: | Status: Investigating |
Company Name: | Company Name: Western Asset Management Company (US Core Bond Funds and Core Plus Bond Funds) |
Court: | Court: Western District of Pennsylvania |
Case Number: | Case Number: 2:25cv00937 |
Class Period: | Class Period: 01/21/2021 - 10/31/2023 |
Ticker: | Ticker: LWCPX, WABAX, WABCX, WABRX, WACIX, WACPX, WACSX, WAPAX, WAPCX, WAPIX, WAPRX, WAPSX, WATFX |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of Pennsylvania on behalf of those who acquired Western Asset Management Company (US Core Bond Funds and Core Plus Bond Funds) (“Western Asset Management” or the “Company”) (NASDAQ:LWCPX, WABAX, WABCX, WABRX, WACIX, WACPX, WACSX, WAPAX, WAPCX, WAPIX, WAPRX, WAPSX, WATFX?) securities during the period of January 21, 2021 and October 31, 2023, inclusive (“the Class Period”). Investors have until September 2, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company's business, financial condition, and prospects. Specifically, Defendants failed to warn investors that: (1) Defendants favored certain WAMCO strategies, like Macro Opps, over other WAMCO strategies, like Core and Core Plus; (2) Defendants disfavored certain WAMCO strategies, like Core and Core Plus; (3) any "compliance policies and procedures" that WAMCO maintained "to result in fair allocations of investment opportunities to clients" were either insufficient to ensure that Leech and his WAMCO Team fairly allocated trades among the strategies they managed or were expressly disregarded by Defendants in order to allow the favoring of certain WAMCO strategies at the expense of other WAMCO strategies; and (4) any "oversight mechanisms" that WAMCO maintained were either insufficient to monitor Leech and his WAMCO Team or were expressly disregarded by Defendants in order to allow the favoring of certain WAMCO strategies at the expense of other WAMCO strategies.
The lawsuit alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company's business, financial condition, and prospects. Specifically, Defendants failed to warn investors that: (1) Defendants favored certain WAMCO strategies, like Macro Opps, over other WAMCO strategies, like Core and Core Plus; (2) Defendants disfavored certain WAMCO strategies, like Core and Core Plus; (3) any "compliance policies and procedures" that WAMCO maintained "to result in fair allocations of investment opportunities to clients" were either insufficient to ensure that Leech and his WAMCO Team fairly allocated trades among the strategies they managed or were expressly disregarded by Defendants in order to allow the favoring of certain WAMCO strategies at the expense of other WAMCO strategies; and (4) any "oversight mechanisms" that WAMCO maintained were either insufficient to monitor Leech and his WAMCO Team or were expressly disregarded by Defendants in order to allow the favoring of certain WAMCO strategies at the expense of other WAMCO strategies.