A lawsuit was filed by an investor in PIMCO ETF Trust (NYSEARCA:BOND) shares and current long-term NYSEARCA:BOND stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 01/21/2015 --An investor in shares of PIMCO ETF Trust (NYSEARCA:BOND) filed a lawsuit against Pacific Investment Management Company and PIMCO Investments for alleged breach of fiduciary duty in connection with bonuses paid to certain PIMCO's Executives.

Investors who purchased shares of PIMCO ETF Trust (NYSEARCA:BOND) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that PIMCO's payments of more than $1.5 billion in executive bonuses for an underperforming mutual fund violate securities laws and should be returned.

The plaintiff claims that the PIMCO's Total Return Fund has performed terribly for several years while it paid its top two executives more than half a billion dollars each. More specifically, the plaintiff says that the fund had more than $292 billion in assets under management at its peak in 2013, but was declining in profitability. In 2012, the fund failed to outperform its benchmark, and 60 percent of the fund's peers outperformed the fund. In 2013, the fund lost 1.92 percent and trailed 70 percent of its peers in its worst performance since 1994According to the complaint PIMCO violated the Investment Company Act by charging excessive fees and paying unreasonable compensation.

In September 2014 an article was published that stated that "the Securities and Exchange Commission is investigating whether bond giant Pacific Investment Management Co. artificially boosted the returns of a popular fund aimed at small investors, according to people familiar with the matter, the latest challenge for the firm run by investor Bill Gross." According to article, the fund involved in the investigation was the Pimco Total Return ETF Bond fund.

On September 26, 2014, PIMCO announced that Co-founder and Chief Investment Officer William H. Gross, has resigned and will leave the firm, effective immediately.

Those who purchased shares of PIMCO ETF Trust (NYSEARCA:BOND) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com