|Company:||Fidelity Ultra-Short Bond Fund|
|Ticker Symbol:||NASD: FUSFX|
|Class Period:||June 6, 2005 to June 5, 2008|
|Lead Plaintiff Deadline:||August-4-08|
A class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of purchasers of the Fidelity Ultra-Short Bond Fund (the "Fund") (NASDAQ: FUSFX) who purchased the fund between June 6, 2005 and June 5, 2008 (the "Class Period"). The complaint charges Fidelity Management & Research Company, among others (the "Defendants"), with violations of the Securities Act of 1933.
The complaint alleges that on or about August 23, 2002, the Defendants began offering shares of the Ultra-Short Bond Fund pursuant to an initial registration statement, filed with the SEC as a Form 485BPOS (the "Registration Statement"). The complaint alleges that the Defendants solicited investors to purchase shares of the Ultra-Short Bond Fund by making statements that described the Fund as a fund that: (i) "Seeks a high level of current income consistent with the preservation of capital"; (ii) "allocates its assets across different market sectors and maturities"; (iii) has a "similar overall interest rate risk to the Lehman Brothers® 6 Month Swap Index"; and (iv) is geared toward the "preservation of capital." As alleged in the complaint, these statements were materially false and misleading because the Defendants did not adequately disclose the risks associated with investing in the Fund, including, for example, that the Fund was: (i) failing to compete with the Lehman Brothers® 6 Month Swap Index; and (ii) so heavily invested in high-risk mortgage-backed securities.
As alleged in the complaint, by June 11, 2007, the Defendants slowly began lowering the value of the share price for the Fund. By November 15, 2007, the value of the per-share price was reduced below $9. Since then the shares were trading as low as $8.25.
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.