NEW YORK, Nov. 18, 2003 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Rudman, LLP announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers, redeemers and holders of shares of the AllianceBernstein Funds managed by Alliance Capital Management Holdings L.P. (AC) between October 2, 1998 and September 29, 2003, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.cauleygeller.com/show_case.asp?ccode=172&pcode=10&pp=4.
The following funds are subject to the above class action lawsuit:
AllianceBernstein Growth & Income Fund (CABDX, CBBDX, CBBCX) AllianceBernstein Health Care Fund (AHLAX, AHLBX, AHLCX) AllianceBernstein Disciplined Value Fund (ADGAX, ADGBX, ADGCX) AllianceBernstein Mid-Cap Growth (CHCLX, CHCBX, CHCCX, CHCYX) AllianceBernstein Real Estate Investment Fund (AREAX, AREBX, ARECX) AllianceBernstein Growth Fund (AGRFX, AGBBX, AGRCX) AllianceBernstein Select Investor Series Biotechnology Portfolio (ASBAX, AIBBX, ASBCX) AllianceBernstein Small CapValue Fund (ABASX, ABBSX, ABCSX) AllianceBernstein Premier Growth Fund (APGAX, APGBX APGCX) AllianceBernstein Select Investor Series Technology Portfolio (Sym AITAX, AITBX, AITCX) AllianceBernstein Value Fund (ABVAX, ABVBX, ABVCX) AllianceBernstein Quasar Fund (QUASX, QUABX, QUACX) AllianceBernstein Technology Fund (ALTFX, ATEBX, ATECX) AllianceBernstein Select Investor Series Premier Portfolio (ASPAX, ASPBX, ASPCX) AllianceBernstein Utility Income Fund (AUIAX, AUIBX, AUICX) AllianceBernstein Balanced Shares (CABNX, CABBX, CBACX) AllianceBernstein Global Value Fund (ABAGX, ABBGX, ABCGX) AllianceBernstein International Value Fund (ABIAX, ABIBX, ABICX) AllianceBernstein Blended Style Series - U.S. Large Cap Portfolio (ABBAX, ABBBX, ABBCX) AllianceBernstein All-Asia Investment Fund (AALAX, AAABX, AAACX) AllianceBernstein Greater China '97 Fund (GCHAX, GCHBX, GCHCX) AllianceBernstein International Premier Growth Fund (AIPAX, AIPBX, AIPCX) AllianceBernstein Global Small Cap Fund (GSCAX, AGCBX, GSCCX) AllianceBernstein New Europe Fund (ANEAX, ANEBX, ANECX) AllianceBernstein Worldwide Privatization Fund (AWPAX, AWPBX, AWPCX) AllianceBernstein Americas Government Income Trust (ANAGX, ANABX, ANACX) AllianceBernstein Bond Fund Corporate Bond Portfolio (CBFAX, CBFBX, CBFCX) AllianceBernstein Bond Fund Quality Bond Portfolio (ABQUX, ABQBX, ABQCX) AllianceBernstein Bond Fund U.S. Government Portfolio (ABUSX, ABUBX ABUCX) AllianceBernstein Emerging Market Debt Fund (AGDAX, AGDBX, AGDCX) AllianceBernstein Global Strategic Income Trust (AGSAX, AGSBX, AGCCX) AllianceBernstein High Yield Fund (AHYAX, AHHBX, AHHCX) AllianceBernstein Multi-Market Strategy Trust (AMMSX, AMMBX, AMMCX) AllianceBernstein Short Duration (ADPAX, ADPBX, ADPCX) AllianceBernstein Intermediate California Muni Portfolio (AICAX, ACLBX, ACMCX) AllianceBernstein Intermediate Diversified Muni Portfolio (AIDAX, AIDBX, AIMCX) AllianceBernstein Intermediate New York Muni Portfolio (ANIAX, ANYBX, ANMCX) AllianceBernstein Muni Income Fund National Portfolio (ALTHX, ALTBX, ALNCX) AllianceBernstein Muni Income Fund Arizona Portfolio (AAZAX, AAZBX, AAZCX) AllianceBernstein Muni Income Fund California Portfolio (ALCAX, ALCBX, ACACX) AllianceBernstein Muni Income Fund Insured California Portfolio (BUICX, BUIBX, BUCCX) AllianceBernstein Muni Income Fund Insured National Portfolio (CABTX, CBBBX, CACCX) AllianceBernstein Muni Income Fund Florida Portfolio (AFLAX, AFLBX, AFLCX) AllianceBernstein Muni Income Fund Massachusetts Portfolio (AMAAX, AMABX) AllianceBernstein Muni Income Fund Michigan Portfolio (AMIAX, AMIBX, AMICX) AllianceBernstein Muni Income Fund Minnesota Portfolio (AMNAX, AMNBX, AMNCX) AllianceBernstein Muni Income Fund New Jersey Portfolio (ANJAX, ANJBX, ANJCX) AllianceBernstein Muni Income Fund New York Portfolio (ALNYX, ALNBX, ANYCX) AllianceBernstein Muni Income Fund Ohio Portfolio (AOHAX, AOHBX, AOHCX) AllianceBernstein Muni Income Fund Pennsylvania Portfolio (APAAX, APABX, APACX) AllianceBernstein Muni Income Fund Virginia Portfolio (AVAAX, AVABX, AVACX)
The complaint charges the AllianceBernstein Funds, Alliance Capital Management Holdings L.P., Alliance Capital Management L.P., AXA Financial, Inc., and certain of its wholly-owned subsidiaries, with violations of the Securities Act of 1933 (the "Securities Act"), the Securities Exchange Act of 1934 (the "Exchange Act"), and for common law breach of fiduciary duties. The Complaint alleges that during the Class Period, the AllianceBernstein Funds and the other defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the AllianceBernstein Funds. According to the Complaint, the Defendants surreptitiously permitted certain favored investors, including defendants Canary Capital Partners, LLC and Canary Investment Management, LLC (collectively, "Canary") to illegally engage in "timing" of the AllianceBernstein Funds whereby these favored investors were permitted to conduct short-term, "in and out" trading of mutual fund shares, despite explicit restrictions on such activity in the AllianceBernstein Funds' prospectuses.
If you bought, redeemed or owned shares of the AllianceBernstein Funds between October 2, 1998 and September 29, 2003, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than December 1, 2003. If you are a member of this class, you can join this class action online at http://www.cauleygeller.com/template8.asp?pcode=6&pp=1. Any member of the purported class may move the Court to serve as lead plaintiff through Cauley Geller or other counsel of their choice, or may choose to do nothing and remain an absent class member.
Cauley Geller is a national law firm that represents investors and consumers in class action and corporate governance litigation. It is one of the country's premiere firms in the area of securities fraud, with in house finance and forensic accounting specialists and extensive trial experience. Since its founding, Cauley Geller has recovered in excess of two billion dollars on behalf of aggrieved shareholders. The firm maintains offices in Boca Raton, Little Rock and New York.
If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e mail the Firm or visit the Firm's website at www.cauleygeller.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca