2011-03-03 06:13:03 -
Investors filed a lawsuit on behalf of all investors who purchased or redeemed also shares in Legg Mason Western Asset Core Bond Fund mutual funds that was part of the Smith Barney family of funds from September 11, 2000 through May 31, 2005 - Legg Mason Western Asset Core Bond Fund Mutual Fund investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com
Lawsuit also on behalf of all investors who purchased or redeemed shares in Legg Mason Western Asset Core Bond Fund mutual funds with the ticker symbol MUTF: (SBTLX, TRBAX, TRBBX) that was part of the Smith Barney family of funds from September 11, 2000 through May 31, 2005.
If you purchased shares Legg Mason Western Asset Core Bond Fund mutual funds with the ticker symbol (MUTF:SBTLX, TRBAX, TRBBX)from September 11, 2000 through May 31, 2005, you have certain options and there are strict and short deadlines running. Those SBTLX, TRBAX, TRBBX 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 SBTLX, TRBAX, TRBBX 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, Legg Mason Western Asset Core Bond 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 Legg Mason Western Asset Core Bond Fund.
According to a law firm investors in Legg Mason Western Asset Core Bond Fund must step forward if this fund is to be included in this litigation. If someone who bought shares in Legg Mason Western Asset Core Bond Fund mutual funds with the ticker symbol SBTLX, TRBAX, TRBBX 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 Legg Mason Western Asset Core Bond Fund will likely not be included in the litigation, so the law firm.
Those who purchased shares in Legg Mason Western Asset Core Bond Fund mutual funds with the ticker symbol (MUTF: SBTLX, TRBAX, TRBBX) from September 11, 2000 through May 31, 2005, have certain options and there are strict and short deadlines running. Those SBTLX, TRBAX, TRBBX investors in the Legg Mason Western Asset Core Bond Fund mutual fund should contact the Shareholders Foundation.
