Welcome to the Mutual Fund Investment Litigation —
Franklin Templeton Sub-Track Information Website
Case No. 1:04-MD-15862-JFM

On Friday, June 28, 2013, the distribution of the Net Settlement Fund in the In re Mutual Funds Investment Litigation - Franklin Templeton Sub-Track began. Distribution checks were mailed to Authorized Claimants pursuant to the Court-approved Plan of Allocation and in accordance with the Court's Order Authorizing Distribution of Settlement Funds in the Franklin Templeton Sub-Track dated May 13, 2013. Pursuant to that Order, distributions were made to Authorized Claimants if the Authorized Claimant's pro rata share of the Net Settlement Fund was more than $10.00. If you have any questions regarding your distribution in this matter, please contact the Claims Administrator at (877) 465-4895.

Für die deutsche Übersetzung des Franklin Templeton Briefs bitte hier klicken.

Beginning on or about November 19, 2003, a series of putative securities class action complaints were filed against Franklin Resources, Inc., certain of its affiliates, and certain non-Franklin-related entities, in several federal district courts throughout the country, alleging market-timing and/or late trading in the Funds in violation of the federal securities laws. Beginning in 2004, a series of putative derivative actions resulting from the same alleged market-timing and/or late trading practices was filed in various federal district courts. On February 20, 2004, the Judicial Panel on Multi-District Litigation issued an order centralizing these actions in one multi-district docket in the United States District Court for the District of Maryland under the caption MDL-1586 - In re Mutual Funds Investment Litigation (the "MDL Actions"). The Franklin Sub-Track was assigned to the Honorable Andre M. Davis, and, in September 2009, reassigned to the Honorable J. Frederick Motz.

The Defendants deny that they are liable to the Plaintiff or the Class, and deny that Plaintiff or the Class have suffered any damages. Moreover, Canary and BAS deny that they are liable to any of the Franklin Funds, or that any of the Franklin Funds suffered any damages attributable to them.

The proposed Settlements and the Stipulation consist of (i) $4,437,368 in cash, paid on behalf of the Third Party Settling Defendants, and (ii) up to $2.75 million contributed toward the costs of distribution in the Class Action (including costs of notice and administration) being paid for by the Franklin Defendants, plus interest thereon. The balance of this fund (excluding the Franklin Contribution), after payment of court-approved attorneys' fees and litigation expenses and, certain of the costs of claims administration and notice, and any other Court approved deductions (the "Net Settlement Funds"), plus the $90,000 OAG Amount to be distributed to Class Members pursuant to Canary's settlement with the OAG, shall be paid to qualifying Authorized Claimants, and, potentially, to the Class Funds. By Order dated December 9, 2011, the Honorable J. Frederick Motz granted final approval to the settlement of the Mutual Fund Investment Litigation Franklin Templeton Sub-Track.

The Class includes: every person (meaning a natural person or any legal entity, including, without limitation, individuals, corporations, employee pension or other benefit or ERISA plans, and trusts) who, during the Class Period of February 6, 1999 through February 4, 2004, inclusive, purchased, owned or held shares in any of the twelve covered mutual funds in the Franklin Templeton Family of Funds: (the "Class Funds"). A list of the twelve mutual funds is available here. Please review the Notice of Pendency and Proposed Settlement And Or Dismissal of Class Action, to see if you purchased or held shares in the mutual funds at issue in the settlement of the class action. To review the German translation of the Notice of Pendency and Proposed Settlement click here. Deutsche Übersetzungen der wichtigsten Abwicklungs-Dokumentation sind unter folgendem Link verfügbar.

Certain Class Members who received their account statements from a broker, dealer, or financial intermediary other than through the Franklin Funds (Omnibus Sub -Account Holders), were required to submit a Proof of Claim establishing their membership in the Class, in order to be eligible for a payment from the Gross Settlement Fund. The deadline to submit a Proof of Claim and Release Form has passed. Any Proofs of Claim submissions received after the deadline will not be considered as a recognized claim in the settlement. Class Members who held shares directly through Franklin Templeton Funds, meaning they received monthly account statements directly from the Franklin Templeton Funds, were not required to submit a Proof of Claim in order to receive payment from the Settlement Fund.


Please do not contact Franklin Templeton Companies, LLC or the Court about this Settlement. Any and all callers will be directed to this website. If you have questions, please refer to the FAQs and the other instruments posted here.

This site is not operated by Franklin Templeton Companies, LLC. This class action settlement is supervised by the Court and is administered by a claims administration firm that handles all aspects of claims processing. Please direct all website questions to the Claims Administrator.