A Milwaukee-based law firm has initiated an investigation into Van Wagoner's fair pricing procedures with regard to its Emerging Growth Fund. The announcement was made late yesterday, the same day that The Wall Street Journal published an article about the unusual pricing of that particular fund.

Ademi & O'Reilly, the firm that has initiated the investigation was unable to be reached by press time. It is unclear how many Van Wagoner shareholders, if any, the firm represents.

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