With the help of Ogilvy & Mather New York, AEFA
decided upon this approach after conducting in depth research, including surveys and focus groups of mass affluent investors, current clients and American Express financial advisors.
American Express is seeking to spin-off AEFA
in order to better maximize growth opportunities for both American Express and AEFA
reported fourth quarter income before accounting change of $195
The action is brought on behalf of AEFA
clients who purchased units of AEC mutual funds during the Class Period.
Gagnon will report to Walter Berman, chief financial officer of AEFA
With this recognition, AEFA
retains the right to continue to use the DALBAR Communications Seal in American Express Funds' annual and semi-annual reports.
The complaint charges AEC, American Express Financial Corporation ("AEFC"), and AEFA
with violations of Securities Exchange Act of 1934 (the "Exchange Act"), among other claims, and for common law breach of fiduciary duties.
The overall increase in 2003 revenues reflected 8 percent growth at Travel Related Services (TRS), 10 percent growth at AEFA
and 7 percent growth at American Express Bank (AEB).
percent at AEFA
, while AEB's expenses were essentially flat.
Babij notes how - despite record earnings - American Express Financial Advisors developed a team to anticipate what kind of firm would replace AEFA
over the next decade.
If you were an AEFA
client and bought shares or units of any funds in the American Express family of mutual funds during the Class Period, you may, no later than May 3, 2004, move to be appointed as a Lead Plaintiff in this class action.
Earlier this year, American Express announced plans to pursue a spin-off to shareholders of AEFA