| Company: | Allianz Global |
| Ticker Symbol: | PCK |
| Class Period: | May-22-07 to Dec-1-08 |
| Date Filed: | Apr-10-09 |
| Lead Plaintiff Deadline: | Jun-9-09 |
| Court: | Central District of California |
| Allegations: | |
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 on behalf of those who purchased PIMCO California Municipal Income Fund II and/or PIMCO Municipal Income Fund II during the PIMCO II Class Period and for those who purchased PIMCO Municipal Income Fund III, PIMCO New York Municipal Income Fund III, and/or PIMCO California Municipal Income Fund III during the PIMCO III Class Period by virtue of the Company's failure to disclose during the two Class Periods that the Funds lacked effective controls and hedges to minimize the risk of loss and risk of liquidity from a large exposure to auction rate securities ("ARS"); that the Funds lacked effective internal controls to ensure that the Funds would remain in compliance with restrictions and limitations related to their investment portfolios and strategies; the extent of the Funds' liquidity risk and loss exposure from the illiquid nature of a large portion of the Funds' portfolios, including ARS, was omitted or misstated. According to the complaint, as the full extent of the Funds' liquidity risk and loss exposure from high risk instruments became known, the value of the Funds' shares declined significantly.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, 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.
