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Case Status:    DISMISSED    
On or around 03/05/2009 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: July 28, 2008

The original class action was filed on behalf of investors who purchased class A shares of certain multi-class MFS stock mutual funds in the aggregate amount of less than $50,000 during the period.

The complaint alleges that, during the Class Period, defendants engaged in a scheme to defraud investors by disseminating prospectuses for the following mutual funds that contain incorrect, incomplete and misleading information: Massachusetts Investors Growth Stock Fund (MIGFX); Massachusetts Investors Trust (MITTX); MFS Aggressive Growth Allocation Fund (MAAGX); MFS Conservative Allocation Fund (MACFX); MFS Core Equity Fund (MRGAX); MFS Core Growth Fund (MFCAX); MFS Emerging Growth Fund (MFEGX); MFS Emerging Markets Equity Fund (MEMAX); MFS Global Equity Fund (MWEFX); MFS Global Growth Fund (MWOFX); MFS Global Total Return Fund (MFWTX); MFS Growth Allocation Fund (MAGWX); MFS International Diversification Fund (MDIDX); MFS International Growth Fund (MGRAX); MFS International New Discovery Fund (MIDAX); MFS International Value Fund (MGIAX); MFS Mid Cap Growth Fund (OTCAX); MFS Mid Cap Value Fund (MVCAX); MFS Moderate Allocation Fund (MAMAX); MFS New Discovery Fund (MNDAX); MFS New Endeavor Fund (MECAX); MFS Research Fund (MFRFX); MFS Research International Fund (MRSAX); MFS Sector Rotational Fund (SRFAX); MFS Strategic Value Fund (MSVTX); MFS Technology Fund (MTCAX); MFS Total Return Fund (MSFRX); MFS Union Standard Equity Fund (MUEAX); MFS Utilities Fund (MMUFX); and MFS Value Fund (MEIAX).

According to the complaint, the defendants, in contravention of their disclosure obligations, knowingly presented class A shares as the best performing share class for the long-term, causing the class members to purchase class A shares of the aforementioned mutual funds, when class B and/or class C shares would have been their best investment choice for any holding period. By making misleading disclosures in, and omitting material information from, the prospectuses for these funds, defendants earned excessive profits while the plaintiff and other class members suffered decreased returns on their investments.

On October 8, 2008, the defendants filed a motion to transfer the case to the District of Massachusetts. On November 13, 2008, the Honorable A. Richard Caputo granted the motion to appoint the lead plaintiff and approved lead plaintiff’s choice of Barrack, Rodos & Bacine; Bonnett Fairbourn Friedman & Balint, P.C.; and, Finkelstein & Krinsk, LLP, as co-lead counsel. On November 20, 2008, the case was transferred to the United States District Court for the District of Massachusetts.

On February 12, 2009, the defendants filed a motion to dismiss the Class Action Complaint. On March 5, 2009, the plaintiff filed a Notice of Voluntary Dismissal. According to the Notice, the parties hereto, by and through their undersigned counsel, hereby stipulate and agree that the action be, and it hereby is, dismissed with prejudice, with the parties, respectively, to bear their own costs and expenses.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
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: D. Massachusetts
DOCKET #: 08-CV-01407
JUDGE: Hon. A. Richard Caputo
DATE FILED: 07/28/2008
CLASS PERIOD START: 07/28/2003
CLASS PERIOD END: 07/28/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  2. 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
  3. Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix)
    2901 North Central Avenue - Suite 1000, Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix), AZ 85012
    602.274.1100 602.274.1199 ·
  4. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
  5. The Melick Law Firm, LLC
    7222 Marylebury Circle, Suite 100, The Melick Law Firm, LLC, OH 43054
    614.775.0998 · gregmelick@themelicklawfirm.com
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 08-CV-11942
JUDGE: Hon. A. Richard Caputo
DATE FILED: 11/20/2008
CLASS PERIOD START:
CLASS PERIOD END:
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  2. 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
  3. Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix)
    2901 North Central Avenue - Suite 1000, Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix), AZ 85012
    602.274.1100 602.274.1199 ·
  4. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
No Document Title Filing Date