Multiple investors of the Van Wagoner Emerging Growth Fund have retained legal counsel to file a lawsuit against Van Wagoner Capital Management and the fund itself for using allegedly inflated net asset values for certain securities in the fund.

Cauley Geller Bowman & Coates will file the lawsuit on behalf of investors in the Federal District Court of Delaware. On Dec. 11, another law firm, Ademi & O’Reilly, announced that it was launching an investigation into the fair pricing procedures of the fund. That announcement followed a Wall Street Journal article about the fund’s unusual pricing.

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