Holzer Holzer & Fistel, LLC Announces That It Has Filed a Shareholder Class Action on Behalf of Purchasers of SSgA Yield Plus Fu
July 11 2008 - 11:30AM
Marketwired
ATLANTA, GA and others on behalf of purchasers of the SSgA Yield
Plus Fund (NASDAQ: SSYPX) (the "Yield Plus Fund" or the "Fund") who
purchased shares of the Fund within the three years that preceded
the filing of this lawsuit (the "Class"). The complaint seeks
remedies for shareholders under the federal Securities Act of
1933.
If you are a purchaser of Yield Plus Fund shares during the
Class Period, you have the legal right to petition the Court to be
appointed a "lead plaintiff." A lead plaintiff is a representative
party that acts on behalf of other class members in directing the
litigation. Any such request must satisfy certain criteria and be
made on or before September 2, 2008. Any member of the purported
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member. If you are a Yield Plus Fund investor and would like
to discuss a potential lead plaintiff appointment, or your rights
and interests with respect to the lawsuit, you may contact Michael
I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at
mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free
telephone at (888) 508-6832.
The complaint alleges that defendants solicited investors to
purchase shares of the Yield Plus Fund by making statements in the
Registration Statement and subsequent supplemental prospectuses
that described the "investment objective" of the SSgA Yield Plus
Fund as investments "primarily in a diversified portfolio" with
"high-quality debt securities" that include "high credit quality,"
"sophisticated credit analysis" and "team based decision making by
experienced investment professionals." As alleged in the complaint,
these statements were materially false and misleading because
defendants did not adequately disclose the risks associated with
investing in the Fund, including, for example, that the Fund was so
heavily invested in high-risk mortgage-related or mortgage-backed
securities.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm
that dedicates its practice to vigorous representation of
shareholders and investors in litigation nationwide, including
shareholder class action and derivative litigation. More
information about the firm is available through its website,
www.holzerlaw.com and upon request from the firm.
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