Company Overview of American Century Companies, Inc.
American Century Companies, Inc., through its subsidiaries, offers investment advisory, management, and administrative services for American Century mutual funds. It administers fixed income, value, quantitative, U.S growth, and international growth funds. The company's brokerage services offer investors access to mutual funds from other firms. American Century Companies, Inc. was formerly known as Twentieth Century Companies, Inc. The company was founded in 1958 and is based in Kansas City, Missouri. American Century Companies, Inc. operates as a subsidiary of Canadian Imperial Bank of Commerce.
4500 Main Street
Kansas City, MO 64111-1816
Founded in 1958
Key Executives for American Century Companies, Inc.
Chief Executive Officer, President and Chief Financial Officer
Chief Client Officer for Americas
Chief Client Officer for International
Compensation as of Fiscal Year 2015.
American Century Companies, Inc. Key Developments
Judge Beth Phillips of the U.S. District Court for the Western District of Missouri Tosses Former Exec's Retaliation Case Against American Century Cos. Inc
Nov 24 15
Judge Beth Phillips of the U.S. District Court for the Western District of Missouri once again threw a lawsuit out of court that was filed against American Century Cos. Inc. by Tom Kmak, former CEO of its Retirement Plan Services subsidiary. Kmak argued that the company retaliated against him for testifying against it in an arbitration case. American Century was embroiled in a dispute with JPMorgan Chase & Co., and Kmak was called to testify. The case ended in 2011 with American Century winning a $373 million judgment. After the winning the arbitration against JPMorgan Chase, American Century used its call rights on company stock Kmak bought while he was employed there from 1990 to 2003. He argued that the move cost him about $3.25 million in lost value and was done in retaliation. American Century argued that it regularly called in the stock of former employees to repurchase it and put it back into the company. The company had no written policy related to the timing of calling in shares, but typically waited about 18 months. However, in this case it actually waited longer because the company was embroiled in the legal battle with JPMorgan and didn't want the call of Kmak's shares to become an issue in that case. A decision was made to wait until after the case was over and then call the stock, which the company did. The judge ruled in favor of American Century, saying the company proved that calling in stock was a regular practice and Kmak didn't provide proof that the call was being done to punish him for participating in the arbitration with JP Morgan. This is the second time a court issued a summary judgment throwing out Kmak's lawsuit against American Century. The first time was in February 2013, but the court allowed Kmak to file an amended complaint to keep the suit going. This time, however, Phillips denied Kmak's request to file another amended complaint.
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