| Company: | Federated Investors, Inc. |
| Ticker Symbol: | NYSE: FII |
| Class Period: | November 1, 1998 to September 3, 2003 |
| Court: | Western District, PA |
| Date Filed: | Oct-27-03 |
| Lead Plaintiff Deadline: | Dec-23-03 |
| Allegations: |
A class action lawsuit has been filed in the United States District Court for the Western District of Pennsylvania on behalf of all purchasers, redeemers and holders of shares of the Federated Family of Funds which are managed by Federated Investors, Inc. (NYSE: FII) during the period between November 1, 1998 and September 3, 2003, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934, the Securities Act of 1933 and the Investment Company Act of 1940.
The following funds are subject to the above class action lawsuit:
- Federated Adjustable Rate Securities Fund (Sym: FEUGX, FASSX)
- Federated American Leaders Fund, Inc. (Sym: FALDX, FALBX, FALCX, FALFX)
- Federated Bond Fund (Sym: FDBAX, FDBBX, FDBCX, ISHIX)
- Federated California Municipal Income Fund (Sym: FCMIX, CMUIX)
- Federated Capital Appreciation Fund (Sym: FEDEX, CPABX, CPACX, CPAKX)
- Federated Capital Income Fund (Sym: CAPAX, CAPBX, CAPCX, CAPFX)
- Federated Capital Preservation Fund
- Federated Communications Technology Fund (Sym: FCTAX, FCTEX, FCTYX)
- Federated Conservative Allocation Fund (Sym: FMCGX, FCGSX)
- Federated Equity Income Fund, Inc. (Sym: LEIFX, LEIBX, LEICX, LFEIX)
- Federated European Equity Fund (Sym: EURAX, EURBA, EURCX)
- Federated Fund for U.S. Government Securities (Sym: FUSGX, FUSBX, FUSCX)
- Federated GNMA Trust (Sym: FGMAX, FGSSX)
- Federated Global Equity Fund (Sym: FGEIX, FGEFX, FGEDX)
- Federated Global Value Fund (Sym: WUFAX, WUFBX, WUFCX)
- Federated Government Income Securities, Inc. (Sym: FGOAX, FGOBX, FGOCX, FGOIX)
- Federated Government Ultrashort Duration Fund (Sym: FGUAX, FGUSX, FEUSX)
- Federated Growth Allocation Fund (Sym: FMGPX, FMGSX)
- Federated Growth Strategies Fund (Sym: FGSAX, FGSBX, FGSCX)
- Federated High Income Bond Fund, Inc. (Sym: FHIIX, FHBBX, FHICX)
- Federated High Yield Trust, Federated Income Trust (Sym: FHYTX)
- Federated Income Trust (Sym: FICMX, FITSX)
- Federated Institutional High Yield Bond Fund (Sym: FIHBX)
- Federated Intermediate Income Fund (Sym: FIIFX, INISX)
- Federated Intermediate Municipal Trust (Sym: FIMTX, FIMYX)
- Federated International Bond Fund (Sym: FTIIX, FTBBX, FTIBX)
- Federated International Capital Appreciation Fund (Sym: IGFAX, IGFBX, IGFCX)
- Federated International Equity Fund (Sym: FTITX, FIEBX, FIECX)
- Federated International High Income Fund (Sym: IHIAX, IHIBX, IHICX)
- Federated International Small Company Fund (Sym: ISCAX, ISCBX, ISCCX)
- Federated International Value Fund (Sym: FGFAX, FGFBX, FGFCX)
- Federated Kaufmann Fund (Sym: KAUAX, KAUBX, KAUCX, KAUFX)
- Federated Kaufmann Small Cap Fund (Sym: FKASX, FKBSX, FKCSX)
- Federated Large Cap Growth Fund (Sym: FLGAX, FLGBX, FLGCX)
- Federated Limited Duration Fund (Sym: FTRLX, FTRDX
) - Federated Limited Duration Government Fund, Inc. (Sym: FLDIX, FLDSX)
- Federated Limited Term Fund (Sym: LTDFX, LTFSX)
- Federated Limited Term Municipal Fund (Sym: LMINX, LMFSX)
- Federated Managed Income Portfolio (Sym: FMIPX, FIPSX)
- Federated Market Opportunity Fund (Sym: FMAAX, FMBBX, FMRCX)
- Federated Max-Cap Index Fund (Sym: MXCCX, FISPX, FMXKX, FMXSX)
- Federated Michigan Intermediate Municipal Trust (Sym: MMIFX)
- Federated Mid-Cap Index Fund (Sym: FMDCX)
- Federated Mini-Cap Index Fund (Sym: MNCCX, FMCPX)
- Federated Moderate Allocation Fund (Sym: FMMGX, FMMSX)
- Federated Mortgage Fund (Sym: FGFIX, FGFSX)
- Federated Muni and Stock Advantage Fund (Sym: FMUAX, FMNBX, FMUCX)
- Federated Municipal Opportunities Fund, Inc. (Sym: FMOAX, FMOBX, FMNCX, FHTFX)
- Federated Municipal Securities Fund, Inc. (Sym: LMSFX, LMSBX, LMSCX)
- Federated Municipal Ultrashort Fund (Sym: FMUUX, FMUSX)
- Federated New York Municipal Income Fund (Sym: NYIFX, NYIBX)
- Federated North Carolina Municipal Income Fund (Sym: NCIFX)
- Federated Ohio Municipal Income Fund (Sym: OMIFX)
- Federated Pennsylvania Municipal Income Fund (Sym: PAMFX, FPABX)
- Federated Short-Term Income Fund (Sym: FSTIX, FSISX)
- Federated Short-Term Municipal Trust (Sym: FSHIX, FSHSX)
- Federated Stock Trust (Sym: FSTKX)
- Federated Stock and Bond Fund, Inc. (Sym: FSTBX, FSBBX, FSBCX, FSBKX)
- Federated Strategic Income Fund (Sym: STIAX, SINBX, SINCX, STFSX)
- Federated Total Return Bond Fund (Sym: TLRAX, TLRBX, TLRCX, FTRBX, FTRKX, FTRFX)
- Federated Total Return Government Bond Fund (Sym: FTRGX, FTGSX)
- Federated U.S. Government Bond Fund (Sym: FEDBX)
- Federated U.S. Government Securities Fund: 1-3 Years (Sym: FSGVX, FSGIX, FSGTX)
- Federated U.S. Government Securities Fund: 2-5 Years (Sym: FIGTX, FIGKX, FIGIX)
- Federated Ultrashort Bond Fund (Sym: FULAX, FULIX, FULBX)
The wrongful conduct alleged in, and which is the subject of one or more of these complaints, relates to "late trading" of mutual fund shares by certain customers of the fund (including one or more hedge funds). Specifically, the conduct complained of relates to allegations that certain of those who invested in certain of the various defendants' mutual funds improperly arranged to place orders after 4 p.m. Eastern Time on a given day at that day's price (instead of the next day's price, which the order would have received had it been processed lawfully). This allowed mutual fund investors who engaged in the same wrongful course of conduct to capitalize on information available only after 4:00 p.m. Eastern Time while others who bought shares in the subject mutual funds could not so benefit.
The wrongful conduct alleged in and which is the subject of one or more of these complaints relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares designed to take advantage of inefficiencies in the way mutual fund companies price their shares, particularly shares of international funds. It is alleged, further, that while the mutual fund companies purported to guard against timing, they allowed select investors to time their trades to the detriment of other mutual fund investors and for the benefit of the mutual fund companies.
If you acquired the securities of the defendants during the Class Period you may, no later than Dec 23, 2003, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The following funds are subject to the above class action lawsuit:
- Federated Adjustable Rate Securities Fund (Sym: FEUGX, FASSX)
- Federated American Leaders Fund, Inc. (Sym: FALDX, FALBX, FALCX, FALFX)
- Federated Bond Fund (Sym: FDBAX, FDBBX, FDBCX, ISHIX)
- Federated California Municipal Income Fund (Sym: FCMIX, CMUIX)
- Federated Capital Appreciation Fund (Sym: FEDEX, CPABX, CPACX, CPAKX)
- Federated Capital Income Fund (Sym: CAPAX, CAPBX, CAPCX, CAPFX)
- Federated Capital Preservation Fund
- Federated Communications Technology Fund (Sym: FCTAX, FCTEX, FCTYX)
- Federated Conservative Allocation Fund (Sym: FMCGX, FCGSX)
- Federated Equity Income Fund, Inc. (Sym: LEIFX, LEIBX, LEICX, LFEIX)
- Federated European Equity Fund (Sym: EURAX, EURBA, EURCX)
- Federated Fund for U.S. Government Securities (Sym: FUSGX, FUSBX, FUSCX)
- Federated GNMA Trust (Sym: FGMAX, FGSSX)
- Federated Global Equity Fund (Sym: FGEIX, FGEFX, FGEDX)
- Federated Global Value Fund (Sym: WUFAX, WUFBX, WUFCX)
- Federated Government Income Securities, Inc. (Sym: FGOAX, FGOBX, FGOCX, FGOIX)
- Federated Government Ultrashort Duration Fund (Sym: FGUAX, FGUSX, FEUSX)
- Federated Growth Allocation Fund (Sym: FMGPX, FMGSX)
- Federated Growth Strategies Fund (Sym: FGSAX, FGSBX, FGSCX)
- Federated High Income Bond Fund, Inc. (Sym: FHIIX, FHBBX, FHICX)
- Federated High Yield Trust, Federated Income Trust (Sym: FHYTX)
- Federated Income Trust (Sym: FICMX, FITSX)
- Federated Institutional High Yield Bond Fund (Sym: FIHBX)
- Federated Intermediate Income Fund (Sym: FIIFX, INISX)
- Federated Intermediate Municipal Trust (Sym: FIMTX, FIMYX)
- Federated International Bond Fund (Sym: FTIIX, FTBBX, FTIBX)
- Federated International Capital Appreciation Fund (Sym: IGFAX, IGFBX, IGFCX)
- Federated International Equity Fund (Sym: FTITX, FIEBX, FIECX)
- Federated International High Income Fund (Sym: IHIAX, IHIBX, IHICX)
- Federated International Small Company Fund (Sym: ISCAX, ISCBX, ISCCX)
- Federated International Value Fund (Sym: FGFAX, FGFBX, FGFCX)
- Federated Kaufmann Fund (Sym: KAUAX, KAUBX, KAUCX, KAUFX)
- Federated Kaufmann Small Cap Fund (Sym: FKASX, FKBSX, FKCSX)
- Federated Large Cap Growth Fund (Sym: FLGAX, FLGBX, FLGCX)
- Federated Limited Duration Fund (Sym: FTRLX, FTRDX
) - Federated Limited Duration Government Fund, Inc. (Sym: FLDIX, FLDSX)
- Federated Limited Term Fund (Sym: LTDFX, LTFSX)
- Federated Limited Term Municipal Fund (Sym: LMINX, LMFSX)
- Federated Managed Income Portfolio (Sym: FMIPX, FIPSX)
- Federated Market Opportunity Fund (Sym: FMAAX, FMBBX, FMRCX)
- Federated Max-Cap Index Fund (Sym: MXCCX, FISPX, FMXKX, FMXSX)
- Federated Michigan Intermediate Municipal Trust (Sym: MMIFX)
- Federated Mid-Cap Index Fund (Sym: FMDCX)
- Federated Mini-Cap Index Fund (Sym: MNCCX, FMCPX)
- Federated Moderate Allocation Fund (Sym: FMMGX, FMMSX)
- Federated Mortgage Fund (Sym: FGFIX, FGFSX)
- Federated Muni and Stock Advantage Fund (Sym: FMUAX, FMNBX, FMUCX)
- Federated Municipal Opportunities Fund, Inc. (Sym: FMOAX, FMOBX, FMNCX, FHTFX)
- Federated Municipal Securities Fund, Inc. (Sym: LMSFX, LMSBX, LMSCX)
- Federated Municipal Ultrashort Fund (Sym: FMUUX, FMUSX)
- Federated New York Municipal Income Fund (Sym: NYIFX, NYIBX)
- Federated North Carolina Municipal Income Fund (Sym: NCIFX)
- Federated Ohio Municipal Income Fund (Sym: OMIFX)
- Federated Pennsylvania Municipal Income Fund (Sym: PAMFX, FPABX)
- Federated Short-Term Income Fund (Sym: FSTIX, FSISX)
- Federated Short-Term Municipal Trust (Sym: FSHIX, FSHSX)
- Federated Stock Trust (Sym: FSTKX)
- Federated Stock and Bond Fund, Inc. (Sym: FSTBX, FSBBX, FSBCX, FSBKX)
- Federated Strategic Income Fund (Sym: STIAX, SINBX, SINCX, STFSX)
- Federated Total Return Bond Fund (Sym: TLRAX, TLRBX, TLRCX, FTRBX, FTRKX, FTRFX)
- Federated Total Return Government Bond Fund (Sym: FTRGX, FTGSX)
- Federated U.S. Government Bond Fund (Sym: FEDBX)
- Federated U.S. Government Securities Fund: 1-3 Years (Sym: FSGVX, FSGIX, FSGTX)
- Federated U.S. Government Securities Fund: 2-5 Years (Sym: FIGTX, FIGKX, FIGIX)
- Federated Ultrashort Bond Fund (Sym: FULAX, FULIX, FULBX)
The wrongful conduct alleged in, and which is the subject of one or more of these complaints, relates to "late trading" of mutual fund shares by certain customers of the fund (including one or more hedge funds). Specifically, the conduct complained of relates to allegations that certain of those who invested in certain of the various defendants' mutual funds improperly arranged to place orders after 4 p.m. Eastern Time on a given day at that day's price (instead of the next day's price, which the order would have received had it been processed lawfully). This allowed mutual fund investors who engaged in the same wrongful course of conduct to capitalize on information available only after 4:00 p.m. Eastern Time while others who bought shares in the subject mutual funds could not so benefit.
The wrongful conduct alleged in and which is the subject of one or more of these complaints relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares designed to take advantage of inefficiencies in the way mutual fund companies price their shares, particularly shares of international funds. It is alleged, further, that while the mutual fund companies purported to guard against timing, they allowed select investors to time their trades to the detriment of other mutual fund investors and for the benefit of the mutual fund companies.
If you acquired the securities of the defendants during the Class Period you may, no later than Dec 23, 2003, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
