Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in KKR Financial Holdings, LLC to Inquir
August 12 2008 - 2:22PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of the common stock of KKR Financial Holdings, LLC ("KKR" or the
"Company") (NYSE: KFN) pursuant or traceable to the Company's
Registration Statement and Prospectus issued in connection with its
May 4, 2007 merger and share issuance.
The complaint charges KKR and certain of its officers and
directors with violations of the Securities Act of 1933. 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 October 6, 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
hoffman@browerpiven.com or 410/332-0030) to answer any questions
you may have in that regard.
KKR is a specialty finance company that invests in multiple
asset classes. The complaint alleges that the Registration
Statement and Prospectus were false and misleading in that they
misrepresented and/or omitted material facts, including
understating the risks attributable to real-estate-related assets
held by the Company, the sufficiency of the Company's capital and
KKR's mortgage-related exposure. The complaint also alleges that
when, on August 15, 2007, KKR issued a release which revealed that
KKR would be selling $5.1 billion in mortgage backed securities at
a loss, the value of KKR shares fell substantially below the
original offering price.
If you have suffered a net loss for all transactions in KKR
Financial Holdings, LLC common stock pursuant or traceable to the
Company's Registration Statement and Prospectus issued in
connection with its May 4, 2007 merger and share issuance, you may
obtain additional information about this lawsuit and your ability
to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410-332-0030, or at Brower Piven, A Professional
Corporation, The World Trade Center-Baltimore, 401 East Pratt
Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower
Piven have combined experience litigating securities and class
action cases of over 40 years. If you choose to retain counsel, you
may retain Brower Piven without financial obligation or cost to
you, or you may retain other counsel of your choice. You need take
no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/332-0030 Email Contact
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