Vanguard Nears Settlement in Target-Date Fund Lawsuit, American Vanguard Announces Q3 Earnings Call

Vanguard, the renowned investment management company, is on the verge of a significant settlement in a legal dispute involving its target-date funds. According to a recent court filing, Vanguard and a group of investors who initiated a lawsuit in 2022 are nearing an agreement. The lawsuit alleged that changes made to the target-date retirement funds led to substantial tax liabilities for individual investors.

The target-date funds, designed to automatically adjust their asset allocation based on the investor’s retirement date, have been a focal point of contention. The plaintiffs argued that Vanguard’s modifications to these funds resulted in unexpected tax burdens, prompting the class action lawsuit. The impending settlement marks a crucial development in this ongoing legal battle.

In separate news, American Vanguard Corporation, a diversified specialty and agricultural products company, has announced that it will report its financial results for the third quarter of 2024. The earnings call, scheduled for November 11 at 4:30 pm ET, will be conducted by Tim Donnelly, Acting CEO, David T. Johnson, VP & CFO, and Mark Bassett, Member of the Board of Directors. The call will be webcast on the company’s website and archived for one year for those unable to listen live.

American Vanguard has expanded its operations significantly over the past 20 years, with product and business acquisitions that have taken the company into 21 countries and resulted in over 1,000 product registrations in 56 nations worldwide. The company’s growth strategy is focused on core business innovation, green solutions, and precision agriculture innovation.