Brower Piven Announces Class Action Lawsuit on Behalf of Purchasers of the SSgA Yield Plus Fund
SOURCE:
Brower Piven, A Professional Corporation
2008-07-15 16:48:00
BALTIMORE, MD–(EMWNews – July 15, 2008) – Brower Piven, A Professional Corporation
announces that a class action lawsuit has been commenced in the United
States District Court for the District of Massachusetts on behalf of
purchasers of the SSgA Yield Plus Fund (
of the Fund within the three years that preceded the filing of the lawsuit
(“the Class Period”).
The complaint charges State Street Corporation and certain related
entities, among others, with violations of the Securities Act of 1933.
State Street Global Advisors is the investment advisor to the entire group
of mutual funds under the State Street name. The Complaint alleges, among
other things, that the Registration Statement, its amendments, and general
solicitation materials for the sale of shares of the Yield Plus Fund were
inaccurate and misleading, contained untrue statements of material facts,
omitted to state other facts necessary to make statements made not
misleading, and otherwise omitted to state material facts required to be
stated therein.
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than September 2,
2008 and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You may contact Brower Piven (through [email protected] or
410/986-0036) to answer questions you may have regarding the lead plaintiff
process.
If you purchased shares of the Fund and have suffered a net loss for all
transactions during the Class Period, you may obtain additional information
about this lawsuit and your ability to become a lead plaintiff by
contacting Brower Piven (without obligation or cost to you) at
www.browerpiven.com, by email at [email protected], by calling
410-986-0036, or at Brower Piven, The World Trade Center-Baltimore, 401
East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at
Brower Piven have combined experience in securities and class action
litigation of over 40 years. If you choose to retain counsel, you may
retain Brower Piven, or you may retain other counsel of your choice. You
need not take any action at this time to be a member of the class.
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