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Case Status:    DISMISSED    
On or around 05/04/2007 (Date of order of final judgment)

Filing Date: June 12, 2003

The Court entered a Judgment on May 4, 2007 dismissing the case in its entirety and providing instructions to plaintiffs to appeal, if they wish. No appeal has been filed as of November 6, 2007.

On February 23, 2007, the Court entered the Memorandum and Order signed by U.S. District Judge Deborah A. Batts granting the defendants’ motion to dismiss the Amended Complaint as to lead plaintiff's claims arising under sections 11 and 12(a) of the Securities Act of 1933 and as to lead plaintiff's claims under section 10(b) of the Securities Act of 1934. As to lead plaintiff's claim under the Investment Company Act, however, the lead plaintiff is granted leave to amend Count Four of her complaint within 45 days of this Memorandum and Order.

On March 30, 2004, the Court entered the granting the motion to appoint Kathleen Fitzgerald as Lead Plaintiff and further granted the motion to approve Goodkind Labaton et al as lead counsel. On May 3, 2004, an Amended Complaint was filed, and on June 24, 2004, the defendants responded by filing a motion to dismiss the Amended Complaint.

The original Complaint alleges that defendants violated the federal securities laws and engaged in a course of business which operated as a fraud and deceit on members of the class. As alleged in the Complaint, Smith Barney's class B shares are an inferior investment choice because, for investors willing to invest $100,000 or more in Smith Barney Funds, investments in class B shares will yield a smaller return because class B shareholders are charged higher sales charges and ongoing annual fees than holders of class A and/or L shares in the same fund. Investors with $100,000 or more to invest will always pay less in sales charges and ongoing distribution fees by investing in class A shares than they will investing in B shares because such investors pay a reduced up front load due to the size of their investment. Under these circumstances, A shares are always a superior investment choice to class B, regardless of anticipated holding period. Despite the fact that class B shares are not a sound investment choice for investors that could have qualified for the $100,000 breakpoint reduction had they invested in class A shares, the majority of money invested in the Smith Barney Funds goes into class B shares. Smith Barney fails to disclose to Class members that investing in class B shares never makes economic sense but instead results in the payment of unnecessary and excessive fees to Defendants.

Adjustable Rate Income Fund (Smith Barney Shares);
Aggressive Growth Fund;
Allocation Series Balanced Portfolio;
Allocation Series Conservative Portfolio;
Allocation Series Global Portfolio;
Allocation Series Growth Portfolio;
Allocation Series High Growth Portfolio;
Allocation Series Income Portfolio;
Appreciation Fund;
Arizona Municipals Fund;
Balanced Fund;
California Municipals Fund;
Capital and Income Fund (Smith Barney Shares);
Classic Values Fund Annual Semi-Annual;
Convertible Fund (Smith Barney Shares);
Diversified Large Cap Growth Fund;
Diversified Strategic Income Fund;
Financial Services Fund;
Florida Portfolio;
Fundamental Value Fund;
Georgia Portfolio;
Global Government Bond Portfolio;
Government Securities Fund;
Group Spectrum Fund;
Growth & Income Fund (Smith Barney Shares);
Hansberger Global Value Fund;
Health Sciences Fund;
High Income Fund;
Intermediate Maturity California Municipals Fund;
Intermediate Maturity New York Municipals Fund;
International All Cap Growth Portfolio;
International Large Cap Fund;
Investment Grade Bond Fund;
Large Cap Core Fund;
Large Capitalization Growth Fund;
Large Cap Value Fund Annual Semi-Annual;
Limited Term Portfolio;
Managed Governments Fund;
Managed Municipals Fund;
Massachusetts Municipals Fund;
Mid Cap Core Fund;
Municipal High Income Fund;
National Portfolio;
New Jersey Municipals Fund;
New York Portfolio;
Oregon Municipals Fund;
Pennsylvania Portfolio;
Premier Selections: All Cap Growth Fund
Premier Selections: Global Growth Fund
Premier Selections: Large Cap Fund
Short-Term Investment Grade Bond Fund
Small Cap Core Fund
Small Cap Growth Fund
Small Cap Growth Opportunities Fund
Small Cap Value Fund
Social Awareness Fund
S&P 500 Index Fund
Technology Fund
Total Return Bond Fund
U.S. Government Securities Fund


Sector: Financial
Industry: Money Center Banks
Headquarters: United States


Ticker Symbol: N/A
Company Market: Open-end Fund
Market Status: Open-end Fund

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 03-CV-4305
JUDGE: Hon. Deborah A. Batts
DATE FILED: 06/12/2003
CLASS PERIOD END: 06/12/2003
  1. Goodkind Labaton Rudoff & Sucharow LLP
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 03-CV-4305
JUDGE: Hon. Deborah A. Batts
DATE FILED: 05/03/2004
CLASS PERIOD END: 06/12/2003
  1. Goodkind Labaton Rudoff & Sucharow LLP
  2. Labaton Sucharow & Rudoff LLP
No Document Title Filing Date
—Related District Court Filings Data is not available