Smith Barney U.S. Government Securities Fund Investor Lawsuit

FOR IMMEDIATE RELEASE
San Diego, California, United States of America (Free-Press-Release.com) February 23, 2011 -- Lawsuit also on behalf of all investors who purchased or redeemed shares in Smith Barney U.S. Government Securities Fund mutual funds with the ticker symbol MUTF: (SBCGX, SBULX) that was part of the Smith Barney family of funds from September 11, 2000 through May 31, 2005.

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Smith Barney U.S. Government Securities Fund Investor Lawsuit

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If you purchased shares Smith Barney U.S. Government Securities Fund mutual funds with the ticker symbol (MUTF:SBCGX, SBULX)from September 11, 2000 through May 31, 2005, you have certain options and there are strict and short deadlines running. Those SBCGX, SBULX 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 SBCGX, SBULX 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, Smith Barney U.S. Government Securities 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 Smith Barney U.S. Government Securities Fund.

According to a law firm investors in Smith Barney U.S. Government Securities Fund must step forward if this fund is to be included in this litigation. If someone who bought shares in Smith Barney U.S. Government Securities Fund mutual funds with the ticker symbol SBCGX, SBULX 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 Smith Barney U.S. Government Securities Fund will likely not be included in the litigation, so the law firm.

Those who purchased shares in Smith Barney U.S. Government Securities Fund mutual funds with the ticker symbol (MUTF: SBCGX, SBULX) from September 11, 2000 through May 31, 2005, have certain options and there are strict and short deadlines running. Those SBCGX, SBULX investors in the Smith Barney U.S. Government Securities Fund mutual fund should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego

Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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The Shareholders Foundation, Inc. is a professional portfolio legal monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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