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Case Status:    SETTLED
On or around 10/04/2012 (Date of order of distribution of settlement)

Filing Date: October 02, 2003

On October 25, 2010, The Hon. J. Frederick Motz signed the Final Judgment and Order, as well as the Order of Plan of Allocation, and order re Attorneys’ Fees and Expenses, which were entered by the Deputy Clerk on October 27, 2010.

On August 18, 2010, there was a Status Report sent to the court updating the court on how the settlement process was progressing. (Document 1320)

On May 19, 2010, The Hon. J. Frederick Motz signed the preliminary order granting approval of the settlement in the Alliance Sub-Track.

According to the latest docket dated November 5, 2007, discovery has been proceeding in the multi-district mutual funds litigation. Simultaneously, some of the defendants have been involved in settlement discussions with the plaintiffs. This settlement process has been impacted by parallel regulatory proceedings occurring at the Securities and Exchange Commission (“SEC”). Nevertheless, the court has been advised that several settlements have been agreed upon in principle. Additionally, numerous individuals and firms have been voluntarily dismissed by plaintiffs throughout 2005 and 2006. On June 11, 2007, the over-seeing judges issued a scheduling order calling for completion of discovery by March 28, 2008.

Additionally, oral arguments concerning numerous pending motions for dismissal were held on October 5, 2007. Those motions were ordered denied on October 19, 2007.

Numerous motions to dismiss various complaints were filed on February 25 and March 7, 2005.

On February 20, 2004, the Judicial Panel on Multidistrict Litigation (JPMDL) transferred all federal actions to the United States District Court for the District of Maryland ("Mutual Fund MDL"). On March 3, 2004 and April 6, 2004, the MDL Panel issued orders conditionally transferring the state Court cases against Alliance Capital and numerous others to the Mutual Fund MDL. Transfer of all of these actions subsequently became final. Plaintiffs in three of these four actions moved to remand the actions back to state Court. On June 18, 2004, the Court issued
an interim opinion deferring decision on plaintiffs' motions to remand until a later stage in the proceedings. Subsequently, the plaintiff in the state Court individual action moved the Court for reconsideration of that interim opinion and for immediate remand of her case to state Court, and that motion is pending. Defendants are not yet required to respond to the complaints filed in the state Court derivative actions.

On September 29, 2004, plaintiffs filed consolidated amended complaints with respect to four claim types: mutual fund shareholder claims; mutual fund derivative claims; derivative claims brought on behalf of Alliance Holding; and claims brought under ERISA by participants in the Profit Sharing Plan for Employees of Alliance Capital. All four complaints include substantially identical factual allegations, which appear to bebased in large part on the SEC Order.

According to a press release dated October 2, 2003, the Complaint alleges that defendants violated Sections 11 and 15 of the Securities Act of 1933; Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder; and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that, throughout the Class Period, certain of the defendants failed to disclose that they improperly allowed certain hedge funds, including Canary and certain Alliance hedge funds, to engage in 'late trading' and 'timing' of the Funds' securities. Late trades are trades received after 4:00 p.m. EST that are filled based on that day's net asset value, as opposed to being filled based on the next day's net asset value, which is the proper procedure under SEC regulations. Late trading allows favored investors to make use of market-moving information that only becomes available after 4 P.M and has been compared to betting on a horse race that already has been run. Timing is excessive, arbitrage trading undertaken to turn a quick profit and which ordinary investors are told that the funds police. Late trading and timing injure ordinary mutual fund investors and are acknowledged as improper practices by the Funds. In return for receiving extra fees from Canary and other favored investors, Alliance Capital Management Holding and its subsidiaries allowed and facilitated Canary's timing and late trading activities, to the detriment of class members, who paid, dollar for dollar, for Canary's improper profits. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing and represented that post-4 P.M. EST trades will be priced based on the next day's net asset value and that premature redemptions will be assessed a charge.

The Funds, and the symbols for the respective Funds named in the complaint, are as follows:

U.S. Stock Funds

AllianceBernstein Growth & Income Fund (Sym: CABDX, CBBDX, CBBCX)
AllianceBernstein Health Care Fund (Sym: AHLAX, AHLBX, AHLCX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Mid-Cap Growth (Sym: CHCAX, CHCBX, CHCCX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Growth Fund (Sym: AGRFX, AGBBX, AGRCX)
AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Small CapValue Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Premier Growth Fund (Sym: APGAX, APGBX APGCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym AITAX, AITBX, AITCX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, ABVCX)
AllianceBernstein Quasar Fund (Sym: QUASX, QUABX, QUACX)
AllianceBernstein Technology Fund (Sym: ALTFX, ATEBX, ATECX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)


Value Funds

AllianceBernstein Balanced Shares (Sym: CABNX, CABBX, CBACX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Small Cap Value Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, AVBCX)

Blended Style Series

AllianceBernstein Blended Style Series - U.S. Large Cap Portfolio (Sym: ABBAX, ABBAX, ABBCX)

Global & International Stock Funds

AllianceBernstein All-Asia Investment Fund (Sym: AALAX, AAABX, AAACX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein Greater China '97 Fund (Sym: GCHAX, GCHBX, GCHCX)
AllianceBernstein International Premier Growth Fund (Sym: AIPAX, AIPBX, AIPCX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Global Small Cap Fund (Sym: GSCAX, AGCBX, GSCCX)
AllianceBernstein New Europe Fund (Sym: ANEAX, ANEBX, ANECX)
AllianceBernstein Worldwide Privatization Fund (Sym: AWPAX, AWPBX, AWPCX)

Select Investor Series

AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym: AITAX, AITBX, AITCX)

Taxable Bond Funds

AllianceBernstein Americas Government Income Trust (Sym: ANAGX, ANABX, ANACX)
AllianceBernstein Bond Fund Corporate Bond Portfolio (Sym: CBFAX, CBFBX, CBFCX)
AllianceBernstein Bond Fund Quality Bond Portfolio (Sym: ABQUX, ABQBX, ABQCX)
AllianceBernstein Bond Fund U.S. Government Portfolio (Sym: ABUSX, ABUBX ABUCX)
AllianceBernstein Emerging Market Debt Fund (Sym: AGDAX, AGDBX, AGDCX)
AllianceBernstein Global Strategic Income Trust (Sym: AGSAX, AGSBX, AGCCX)
AllianceBernstein High Yield Fund (Sym: AHYAX, AHHBX, AHHCX)
AllianceBernstein Multi-Market Strategy Trust (Sym: AMMSX, AMMBX, AMMCX)
AllianceBernstein Short Duration (Sym: ADPAX, ADPBX, ADPCX)

Tax-Exempt Bond Funds

AllianceBernstein Intermediate California Muni Portfolio (Sym: AICBX, ACLBX, ACMCX)
AllianceBernstein Intermediate Diversified Muni Portfolio (Sym: AIDAX, AIDBX, AIMCX)
AllianceBernstein Intermediate New York Muni Portfolio: (Sym: ANIAX, ANYBX, ANMCX)
AllianceBernstein Muni Income Fund National Portfolio (Sym: ALTHX, ALTBX, ALNCX)
AllianceBernstein Muni Income Fund Arizona Portfolio (Sym: AAZAX, AAZBX, AAZCX)
AllianceBernstein Muni Income Fund California Portfolio (Sym: ALCAX, ALCBX, ACACX)
AllianceBernstein Muni Income Fund Insured California Portfolio (Sym: BUICX, BUIBX, BUCCX)
AllianceBernstein Muni Income Fund Insured National Portfolio (Sym: CABTX, CBBBX, CACCX)
AllianceBernstein Muni Income Fund Florida Portfolio (Sym: AFLAX, AFLBX, AFLCX)
AllianceBernstein Muni Income Fund Massachusetts Portfolio (Sym: AMAAX, AMABX)
AllianceBernstein Muni Income Fund Michigan Portfolio (Sym: AMIAX, AMIBX, AMICX)
AllianceBernstein Muni Income Fund Minnesota Portfolio (Sym: AMNAX, AMNBX, AMNCX)
AllianceBernstein Muni Income Fund New Jersey Portfolio (Sym: ANJAX, ANJBX, ANJCX)
AllianceBernstein Muni Income Fund New York Portfolio (Sym: ALNYX, ALNBX, ANYCX)
AllianceBernstein Muni Income Fund Ohio Portfolio (Sym: AOHAX, AOHBX, AOHCX)
AllianceBernstein Muni Income Fund Pennsylvania Portfolio (Sym: APAAX, APABX, APACX)
AllianceBernstein Muni Income Fund Virginia Portfolio (Sym: AVAAX, AVABX, AVACX)

Investors in the State of Rhode Island 529 Plan, known as the CollegeBoundfund(SM), may have invested in one or more of the funds listed below:

AllianceBernstein Growth & Income Fund
AllianceBernstein Mid-Cap Growth Fund
AllianceBernstein Premier Growth Fund
AllianceBernstein Quasar Fund
AllianceBernstein Technology Fund
AllianceBernstein Quality Bond Portfolio
AllianceBernstein International Value Fund
AllianceBernstein Small Cap Value Fund
AllianceBernstein Value Fund

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CABDX
Company Market:
Market Status:

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: D. Maryland
DOCKET #: 03-CV-7765
JUDGE: Hon. John E. Sprizzo
DATE FILED: 10/02/2003
CLASS PERIOD START: 10/02/1998
CLASS PERIOD END: 09/29/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abraham, Fruchter & Twersky (New York, 42 Street)
    60 East 42 Street, Abraham, Fruchter & Twersky (New York, 42 Street), NY 10021
    212.687.6655 ·
  2. Alfred G. Yates, Jr.
    429 Forbes Avenue, Alfred G. Yates, Jr. , PA 15219
    412.391.5164 ·
  3. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  4. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  5. Brian Felgoise
    230 South Broad Street, Suite 404 , Brian Felgoise, PA 19102
    215.735.6810 215/735.5185. ·
  6. Cauley Geller Bowman Coates & Rudman, LLP (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  7. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  8. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  9. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  10. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  11. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  12. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  13. The Emerson Firm
    2228 Cottondale Avenue, Suite 100, The Emerson Firm, AR 72202
    800.663.9817 501.907.2556 · epllp@emersonpoynter.com
  14. Zwerling, Schachter, Zwerling & Koppell LLP
    767 Third Avenue , Zwerling, Schachter, Zwerling & Koppell LLP, NY 10017
    ·
No Document Title Filing Date
COURT: D. Maryland
DOCKET #:
JUDGE: Hon. John E. Sprizzo
DATE FILED: 09/24/2004
CLASS PERIOD START: 10/01/1998
CLASS PERIOD END: 09/30/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
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