NEW YORK, Oct. 21, 2003 (PRIMEZONE) -- Notice is hereby given that a securities class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of all persons or entities who purchased or otherwise acquired one or more of the shares of the AllianceBernstein Funds managed by Alliance Capital Management Holdings L.P. (NYSE:AC), between October 2, 1998 and September 29, 2003, inclusive (the "Class Period").
The following funds may be subject to the above class action lawsuit:
U.S. STOCK FUNDS
AllianceBernstein Growth & Income Fund (Nasdaq:CABDX) (Nasdaq:CBBDX) (Nasdaq:CBBCX) AllianceBernstein Health Care Fund (Nasdaq:AHLAX) (Nasdaq:CBBDX) (Nasdaq:CBBCX) AllianceBernstein Disciplined Value Fund (Nasdaq:ADGAX) (Nasdaq:ADGBX)(Nasdaq:ADGCX) AllianceBernstein Mid-Cap Growth (Nasdaq:CHCAX) (Nasdaq:CHCBX) (Nasdaq:CHCCX) AllianceBernstein Real Estate Investment Fund (Nasdaq:AREAX) (Nasdaq:AREBX) (Nasdaq:ARECX) AllianceBernstein Growth Fund (Nasdaq:AGRFX) (Nasdaq:AGBBX) (Nasdaq:AGRCX) AllianceBernstein Select Investor Series Biotechnology Portfolio (Nasdaq:ASBAX)(Nasdaq:AIBBX)(Nasdaq:ASBCX) AllianceBernstein Small CapValue Fund (Nasdaq:ABASX) (Nasdaq:ABBSX) (Nasdaq:ABCSX) AllianceBernstein Premier Growth Fund (Nasdaq:APGAX) (Nasdaq:APGBX) (Nasdaq:APGCX) AllianceBernstein Select Investor Series Technology Portfolio (Nasdaq:AITAX)(Nasdaq:AITBX)(Nasdaq:AITCX) AllianceBernstein Value Fund (Nasdaq:ABVAX)(Nasdaq:ABVBX) (Nasdaq:ABVCX) AllianceBernstein Quasar Fund (Nasdaq:QUASX) (Nasdaq:QUABX) (Nasdaq:QUACX) AllianceBernstein Technology Fund (Nasdaq:ALTFX) (Nasdaq:ATEBX) (Nasdaq:ATECX) AllianceBernstein Select Investor Series Premier Portfolio (Nasdaq:ASPAX) (Nasdaq:ASPBX) (Nasdaq:ASPCX) AllianceBernstein Utility Income Fund (Nasdaq:AUIAX) (Nasdaq:AUIBX) (Nasdaq:AUICX) VALUE FUNDS AllianceBernstein Balanced Shares (Nasdaq:CABNX) (Nasdaq:CABBX) (Nasdaq:CBACX) AllianceBernstein Disciplined Value Fund (Nasdaq:ADGAX) (Nasdaq:ADGBX) (Nasdaq:ADGCX) AllianceBernstein Global Value Fund (Nasdaq:ABAGX) (Nasdaq:ABBGX) (Nasdaq:ABCGX) AllianceBernstein International Value Fund (Nasdaq:ABIAX) (Nasdaq:ABIBX) (Nasdaq:ABICX) AllianceBernstein Real Estate Investment Fund (Nasdaq:AREAX) (Nasdaq:AREBX) (Nasdaq:ARECX) AllianceBernstein Small Cap Value Fund (Nasdaq:ABASX) (Nasdaq:ABBSX) (Nasdaq:ABCSX) AllianceBernstein Utility Income Fund (Nasdaq:AUIAX) (Nasdaq:AUIBX) (Nasdaq:AUICX) AllianceBernstein Value Fund (Nasdaq:ABVAX) (Nasdaq:ABVBX) (Nasdaq:AVBCX) BLENDED STYLE SERIES AllianceBernstein Blended Style Series - U.S. Large Cap Portfolio (Nasdaq:ABBAX) (Nasdaq:ABBAX)(Nasdaq:ABBCX) GLOBAL & INTERNATIONAL STOCK FUNDS AllianceBernstein All-Asia Investment Fund (Nasdaq:AALAX) (Nasdaq:AAABX) (Nasdaq:AAACX) AllianceBernstein Global Value Fund (Nasdaq:ABAGX) (Nasdaq:ABBGX) (Nasdaq:ABCGX) AllianceBernstein Greater China '97 Fund (Nasdaq:GCHAX) (Nasdaq:GCHBX) (Nasdaq:GCHCX) AllianceBernstein International Premier Growth Fund (Nasdaq:AIPAX) (Nasdaq:AIPBX) (Nasdaq:AIPCX) AllianceBernstein International Value Fund (Nasdaq:ABIAX) (Nasdaq:ABIBX) (Nasdaq:ABICX) AllianceBernstein Global Small Cap Fund (Nasdaq:GSCAX) (Nasdaq:AGCBX) (Nasdaq:GSCCX) AllianceBernstein New Europe Fund (Nasdaq:ANEAX) (Nasdaq:ANEBX) (Nasdaq:ANECX) AllianceBernstein Worldwide Privatization Fund (Nasdaq:AWPAX) (Nasdaq:AWPBX) (Nasdaq:AWPCX) SELECT INVESTOR SERIES AllianceBernstein Select Investor Series Biotechnology Portfolio (Nasdaq:ASBAX) (Nasdaq:AIBBX)(Nasdaq:ASBCX) AllianceBernstein Select Investor Series Premier Portfolio (Nasdaq:ASPAX)(Nasdaq:ASPBX)(Nasdaq:ASPCX) AllianceBernstein Select Investor Series Technology Portfolio (Nasdaq:AITAX)(Nasdaq:AITBX)(Nasdaq:AITCX) TAXABLE BOND FUNDS AllianceBernstein Americas Government Income Trust (Nasdaq:ANAGX) (Nasdaq:ANABX)(Nasdaq:ANACX) AllianceBernstein Bond Fund Corporate Bond Portfolio (Nasdaq:CBFAX) (Nasdaq:CBFBX) (Nasdaq:CBFCX) AllianceBernstein Bond Fund Quality Bond Portfolio (Nasdaq:ABQUX) (Nasdaq:ABQBX) (Nasdaq:ABQCX) AllianceBernstein Bond Fund U.S. Government Portfolio (Nasdaq:ABUSX)(Nasdaq:ABUBX)(Nasdaq:ABUCX) AllianceBernstein Emerging Market Debt Fund (Nasdaq:AGDAX) (Nasdaq:AGDBX)(Nasdaq:AGDCX) AllianceBernstein Global Strategic Income Trust (Nasdaq:AGSAX)(Nasdaq:AGSBX)(Nasdaq:AGCCX) AllianceBernstein High Yield Fund (Nasdaq:AHYAX) (Nasdaq:AHHBX)(Nasdaq:AHHCX) AllianceBernstein Multi-Market Strategy Trust (Nasdaq:AMMSX)(Nasdaq:AMMBX)(Nasdaq:AMMCX) AllianceBernstein Short Duration (Nasdaq:ADPAX) (Nasdaq:ADPBX)(Nasdaq:ADPCX) TAX-EXEMPT BOND FUNDS AllianceBernstein Intermediate California Muni Portfolio (Nasdaq:AICBX)(Nasdaq:ACLBX)(Nasdaq:ACMCX) AllianceBernstein Intermediate Diversified Muni Portfolio (Nasdaq:AIDAX)(Nasdaq:AIDBX)(Nasdaq:AIMCX) AllianceBernstein Intermediate New York Muni Portfolio: (Nasdaq:ANIAX)(Nasdaq:ANYBX)(Nasdaq:ANMCX) AllianceBernstein Muni Income Fund National Portfolio (Nasdaq:ALTHX)(Nasdaq:ALTBX)(Nasdaq:ALNCX) AllianceBernstein Muni Income Fund Arizona Portfolio (Nasdaq:AAZAX)(Nasdaq:AAZBX)(Nasdaq:AAZCX) AllianceBernstein Muni Income Fund California Portfolio (Nasdaq:ALCAX)(Nasdaq:ALCBX)(Nasdaq:ACACX) AllianceBernstein Muni Income Fund Insured California Portfolio (Nasdaq:BUICX)(Nasdaq:BUIBX)(Nasdaq:BUCCX) AllianceBernstein Muni Income Fund Insured National Portfolio (Nasdaq:CABTX)(Nasdaq:CBBBX)(Nasdaq:CACCX) AllianceBernstein Muni Income Fund Florida Portfolio (Nasdaq:AFLAX)(Nasdaq:AFLBX)(Nasdaq:AFLCX) AllianceBernstein Muni Income Fund Massachusetts Portfolio (Nasdaq:AMAAX) (Nasdaq:AMABX) AllianceBernstein Muni Income Fund Michigan Portfolio (Nasdaq:AMIAX)(Nasdaq:AMIBX)(Nasdaq:AMICX) AllianceBernstein Muni Income Fund Minnesota Portfolio (Nasdaq:AMNAX)(Nasdaq:AMNBX)(Nasdaq:AMNCX) AllianceBernstein Muni Income Fund New Jersey Portfolio (Nasdaq:ANJAX)(Nasdaq:ANJBX)(Nasdaq:ANJCX) AllianceBernstein Muni Income Fund New York Portfolio (Nasdaq:ALNYX)(Nasdaq:ALNBX)(Nasdaq:ANYCX) AllianceBernstein Muni Income Fund Ohio Portfolio (Nasdaq:AOHAX)(Nasdaq:AOHBX)(Nasdazq:AOHCX) AllianceBernstein Muni Income Fund Pennsylvania Portfolio (Nasdaq:APAAX)(Nasdaq:APABX)(Nasdaq:APACX) AllianceBernstein Muni Income Fund Virginia Portfolio (Nasdaq:AVAAX)(Nasdaq:AVABX)(Nasdaq:AVACX)
If you purchased shares of the AllianceBernstein Funds during the Class Period, you may, no later than December 1, 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 the Securities Exchange Act of 1934, the Securities Act of 1933, the Investment Company Act of 1940 and common law breach of fiduciary duties by engaging in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the AllianceBernstein Funds.
Specifically the complaint states that defendants furtively permitted certain 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 AllianceBernstein 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