In a press release dated May 1, 2001, the Dreyfus Corporation and its Aggressive Growth Fund and the Premier Aggressive Growth Funds announced that they had agreed to pay $20.5 million to settle a federal class action lawsuit and a state lawsuit brought in 1998 by investors. The presiding Federal Judge found that “the merits of case was promising” due to the publicly reports issued by asensio.com reports on 19 “highly suspicious” companies in the funds and a report detailing how a fund manager “purchases shares in private transactions before he used Dreyfus Funds’ money to buy stock in the open market.”
