Lawsuit also on behalf of all investors who purchased or redeemed SMDAX shares in the Salomon Brothers Mid Cap Fund ) with the ticker symbol MUTF: (SMDAX) that was part of the Smith Barney family of funds from September 11, 2000 through May 31, 2005.
If you purchased SMDAX shares of the mutual fund Salomon Brothers Mid Cap Fund ) from September 11, 2000 through May 31, 2005, you have certain options and there are strict and short deadlines running. Those SMDAX fund holders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the United States District Court for the Southern District of New York the plaintiffs, who invested in the Smith Barney Capital Preservation Fund, the Citistreet Large Company Stock Fund, and the Smith Barney Large Cap Growth and Value Fund allege also on behalf of all investors who purchased or redeemed SMDAX shares from September 11, 2000 through May 31, 2005, that Smith Barney Asset Management LLC allegedly made false and misleading statements and omissions relating to a contract for transfer agent services. The plaintiffs filed the lawsuit on behalf of investors in 105 mutual funds and the Salomon Brothers Mid Cap Fund ) is one of those funds.
The plaintiff claims that Smith Barney Fund Management LLC contracted a transfer agent to handle administrative work for their funds. Then Smith Barney Asset Management LLC decided to bring the work in-house because it was cheaper, but the original transfer agent offered a tremendous discount to remain the primary servicer. Smith Barney Asset Management LLC accepted the discounted services and never passed on the administrative savings to the fund shareholders, so the plaintiff. The plaintiff claims that fund managers have fiduciary responsibilities to the shareholder and must place shareholder interest above their own.On January 25, 2011, the Court of Appeals sustained most of the claims, but the judges held that the present plaintiffs lacked standing to represent investors in most of the 105 funds, including the Salomon Brothers Mid Cap Fund ) (MUFT: SMDAX).
According to a law firm investors in Salomon Brothers Mid Cap Fund ) must step forward if this fund is to be included in this litigation. If someone who bought shares in Salomon Brothers Mid Cap Fund ) mutual funds with the ticker symbol SMDAX from September 11, 2000 through May 31, 2005 does not step forward, the plaintiffs may have no standing in this fund and, thus, investors in the Salomon Brothers Mid Cap Fund ) will likely not be included in the litigation, so the law firm.
Those who purchased MUFT: SMDAX shares in the mutual fund Salomon Brothers Mid Cap Fund ) from September 11, 2000 through May 31, 2005, have certain options and there are strict and short deadlines running. Those SMDAX investors in the Salomon Brothers Mid Cap Fund ) mutual fund should contact the Shareholders Foundation.
(PR-Inside.com)
Kommentare sind geschlossen, aber trackbacks und Pingbacks sind offen.