NEW YORK, Oct. 18, 2003 (PRIMEZONE) -- Notice is hereby given that a securities class action lawsuit was filed in the United States District Court for the Eastern District of Wisconsin on behalf of purchasers of the securities of the Strong Funds family of funds owned and operated by Strong Financial Corporation and its subsidiaries and affiliates (collectively the "Strong Funds"), between October 1, 1998 and September 3, 2003, inclusive (the "Class Period").
The following funds may be subject to the above class action lawsuit:
Strong Advisor Bond Fund (SVBDX, SADBX, SABCX, SIBNX, F008W1, SBDIX) Strong Advisor Municipal Bond Fund (SAMAX, SMBBX, SMUIX, F00BH8) Strong Advisor Municipal Select Fund (STAEX, F005LZ, F005M9) Strong Advisor Short Duration Bond A Fund (STSDX, SSDKX, SSHCX, STGBX) Strong Advisor Common Stock Fund (SCSAX, SCSKX, STSAX, STCSX) Strong Advisor Endeavor Large Cap Fund (STALX, F008GO) Strong Advisor Focus Fund (F005MO, F005M7, F005LT) Strong Advisor International Core Fund (F008GQ, F008GR, F008GS) Strong Advisor Large Company Core Fund (SLGAX, F00AO2, F00AO3, SLCKX) Strong Advisor Mid-Cap Growth Fund (F005LQ, F005M1, F005LO, SMDCX) Strong Advisor Small Cap Value Fund (SMVAX, SMVBX, SMVCX, SSMVX) Strong Advisor Strategic Income Fund (SASAX, F005L7, SASCX Strong Advisor Technology Fund (F005LM, F005LM) Strong Advisor U.S. Small/Mid Cap Growth Fund (F009D0, F009D1) Strong Advisor U.S. Value (F005M2, F005M5, F005MA, SEQKX, SEQIX) Strong Advisor Utilities and Energy Fund (SUEAX, F00AED, F00AEE, F009D5) Strong All Cap Value Fund (F009D5) Strong Asia Pacific Fund (SASPX ) Strong Balanced Fund (STAAX ) Strong Blue Chip Fund (SBCHX) Strong Discovery Fund (STDIX) Strong Dividend Income Fund (SDVIX, F008VY) Strong Dow 30 Value Fund (SDOWX) Strong Endeavor Fund (SENDX) Strong Energy Fund (SENGX) Strong Enterprise Fund (SENAX, F04ANX, SENTX, SEPKX) Strong Growth & Income Fund (SGNAX, SGNIX, SGRIX, SGIKX) Strong Growth 20 Fund (SGTWX, SGRTX, F00B67) Strong Growth Fund (SGROX, SGRKX, SGRAX, SGRNX) Strong Index 500 Fund (SINEX) Strong Large Cap Core Fund (SLCRX) Strong Large Cap Growth Fund (STRFX) Strong Large Company Growth Fund (SLGIX, F04ANY) Strong Mid Cap Disciplined Fund (SMCDX) Strong Multi-Cap Value Fund (SMTVX) Strong Opportunity Fund (SOPVX, SOPFX, F00AH2) Strong Overseas Fund (F00B4I, SOVRX) Strong Small Company Value Fund (F009D3) Strong Technology 100 Fund (STEKX) Strong U.S. Emerging Growth Fund (SEMRX) Strong Value Fund (STVAX) Strong Life Stages -- Aggressive Portfolio Fund (SAGGX ) Strong Life Stages -- Conservative Portfolio Fund (SCONX) Strong Life Stages -- Moderate Portfolio Fund (SMDPX) Strong Corporate Bond Fund (SCBDX, SCBNX, STCBX) Strong Corporate Income Fund (SCORX) Strong High-Yield Bond Fund (SHBAX, SHYYX, STHYX) Strong Government Securities Fund (SGVDX, F00B66, SGVIX, STVSX) Strong High-Yield Municipal Bond Fund (SHYLX) Strong Intermediate Municipal Bond Fund (SIMBX) Strong Municipal Bond Fund (SXFIX) Strong Minnesota Tax-Free Fund (F00B64, F00B65, F00B63) Strong Wisconsin Tax-Free Fund (F0068K) Strong Short-Term High-Yield Municipal Bond Fund (SSHMX) Strong Short-Term Municipal Bond Fund (F00B62, STSMX) Strong Short-Term High-Yield Bond Fund (SSTHX, STHBX) Strong Short-Term Income Fund (F00B1K) Strong Short-Term Bond Fund (SSTVX, SSHIX, SSTBX) Strong Ultra Short-Term Income Fund (SADAX, SADIX, STADX) Strong Ultra Short-Term Municipal Income Fund (SMAVX, SMAIX, SMUAX) Strong Florida Municipal Money Market Fund (SLFXX) Strong Heritage Money Fund (SHMXX) Strong Money Market Fund (SMNXX) Strong Municipal Money Market Fund (SXFXX) Strong Tax-Free Money Fund (STMXX)
If you purchased Strong Fund securities during the Class Period, you may, no later than November 4, 2003, move the court to serve as a lead plaintiff, provided you meet certain legal requirements. To serve as a Lead Plaintiff, you will be required to sign the Certification, as provided on our website at www.nyclasslaw.com/join.html.
The Complaint alleges that defendants violated Sections 11 and 15 of the Securities Exchange 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 Advisors Act of 1940 by engaging in illegal and improper trading practices, in concert with certain institutional traders, causing financial injury to the shareholders of the Strong Funds.
Specifically the complaint states that: 1) defendants furtively permitted certain favored investors to illegally receive the prior day's price for orders placed after 4:00 p.m. This allowed the favored investors to capitalized on post-4:00 p.m. information, placing those who purchased their mutual fund shares lawfully at a disadvantage; 2) defendants permitted favored investors to engage in "timing" of the Strong Funds in exchange for extra fees. Timing is excessive, arbitrage trading undertaken to turn a quick profit. Timing injures ordinary mutual fund investors, who are not allowed to engaged in such practices, and is explicitly acknowledged as improper in the Strong Funds' prospectus.
Plaintiff seeks to recover damages on behalf of all purchasers or acquirers of the Funds during the Class Period. Plaintiff is represented in this class action by the law firm of Bull & Lifshitz, LLP. Bull & Lifshitz, LLP has extensive experience in litigating investor class actions. For more information regarding Bull & Lifshitz, LLP, please view our website at www.nyclasslaw.com.
For an information package (www.nyclasslaw.com/infopackage.html) or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Peter D. Bull, Esq. or Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.