Austin Capital Management LTD. Hedge Funds Investor Class Action Lawsuit In Relation To Madoff Ponzi

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 8, 2009 -- On Wednesday, April 08, 2009, an investor with Austin Capital Management LTD. filed a proposed securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors in Austin Capital Management Ltd. hedge funds during the period between January 2, 2005 and December 11, 2008, seeking to recover losses resulting from Austin Capital Management’s placement of significant amounts of investor money into funds managed by Bernard L. Madoff and his firm.

If you invested in Austin Capital Management Ltd. hedge funds during the period between January 2, 2005 and December 11, 2008 or are an employee and your benefit plans invested with Austin Capital hedge funds during the period between January 2, 2005 and December 11, 2008 you have certain options and there are short and strict deadlines running. (Deadline: June 05, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

The filed class action lawsuit includes also a sub-class of those employee benefit plans which invested with Austin Capital Management Ldt. between January 2, 2005 and December 11, 2008 and alleges that those investor have claims under the Employee Retirement Income Security Act of 1974 (“ERISA”) for breach of fiduciary duty. According to the complaint the plaintiff alleges that Austin Capital Management Ltd. (“Austin Capital”), its investment managers and its outside auditors violated violations of the Securities Exchange Act of 1934 and ERISA by placing significant amounts of investor money into funds managed by Bernard Madoff and his firm. Madoff has been charged with running what may be the largest Ponzi scheme ever with a volume of Over $50Billion. The plaintiff alleges that unbeknownst to investors in its funds, Austin Capital had invested approximately 7.5% of its funds in Madoff-managed investments and that this was contrary to the duties Austin Capital had to its investors of good faith and fair dealing and contrary to the representations Austin Capital had made regarding its processes for selecting fund managers, and as a result of defendants’ breaches and false statements, Austin Capital investors made additional investments in Austin Capital and/or held interests they would have redeemed.

If you invested in Austin Capital Management Ltd. hedge funds during the period between January 2, 2005 and December 11, 2008 or are an employee and your benefit plans invested with Austin Capital hedge funds during the period between January 2, 2005 and December 11, 2008 you have certain options and there are short and strict deadlines running. (Deadline: June 05, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

For more information please visit us at www.ShareholdersFoundation.com

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