Legg Mason Mutual Fund Investor Lawsuit against Smith Barney Asset Management LLC

March 2, 2011 - PRLog -- Lawsuit on behalf of all investors who purchased or redeemed also shares in any of the below listed Legg Mason mutual funds that were part of the Smith Barney family of funds from September 11, 2000 through May 31, 2005.

If you purchased shares in any of the below listed Legg Mason mutual funds from September 11, 2000 through May 31, 2005, you have certain options and there are strict and short deadlines running. Those fund holders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the United States District Court for the Southern District of New York the plaintiffs alleged on behalf of all investors who purchased or redeemed shares from September 11, 2000 through May 31, 2005 in below listed Legg Mason mutual funds, that Smith Barney Asset Management LLC allegedly made false and misleading statements and omissions relating to a contract for transfer agent services.

The plaintiff claims that Smith Barney Asset Management LLC contracted a transfer agent to handle administrative work for their funds.  Then Smith Barney Asset Management LLC decided to bring the work in-house because it was cheaper, but the original transfer agent offered a tremendous discount to remain the primary servicer. Smith Barney Asset Management LLC accepted the discounted services and never passed on the administrative savings to the fund shareholders, so the plaintiff.  The plaintiff claims that fund managers have fiduciary responsibilities to the shareholder and must place shareholder interest above their own.
On January 25, 2011, the Court sustained most of the claims, but the judge held that the present plaintiffs lacked standing to represent investors in below listed funds.
According to a law firm investors in the below listed funds must step forward if those funds are to be included in this litigation. If someone who bought shares in the blow listed mutual funds from September 11, 2000 through May 31, 2005 does not step forward, the plaintiff may have no standing in this fund and, thus, investors in the below listed funds will likely not be included in the litigation, so the law firm.

Those who purchased shares in any of the below listed Legg Mason mutual funds from September 11, 2000 through May 31, 2005, have certain options and there are strict and short deadlines running. Those investors in any of those mutual fund should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.


•   Legg Mason Batterymarch S&P 500 Index Fund , MUTF:  SBSDX
•   Legg Mason ClearBridge Capital Fund , MUTF: SCCAX, SCCCX, SPABX
•   Legg Mason ClearBridge Large Cap Value Fund , MUTF: SAIFX, SBINX, SINOX, SINAX
•   Legg Mason Short/Intermediate U.S. Government Bond Fund,  MUTF: SUSAX, SUSBX, SUSCX
•   Legg Mason ClearBridge Small Cap Growth Fund , MUTF: SASMX, SBPYX, SBSMX, SCSMX
•   Legg Mason Partners Variable Government Portfolio  
•   Legg Mason ClearBridge Aggressive Growth Fund, MUTF: SAGBX, SAGCX, SAGYX, SHRAX
•   Legg Mason Capital Management All Cap Fund , MUTF: SPAAX, SPBBX, SPBLX
•   Legg Mason ClearBridge Appreciation Fund , MUTF: SAPYX, SAPBX, SAPCX, SHAPX
•   Legg Mason Lifestyle Allocation 50% , MUTF: SBBAX, SCBBX, SCBCX
•   Legg Mason Western Asset California Municipals Fund , MUTF: SCABX, SCACX, SHRCX
•   Legg Mason Partners Capital Preservation Fund
•   Legg Mason Partners Capital Preservation Fund II
•   Legg Mason Lifestyle Allocation 30% , MUTF: SBCBX, SBCLX, SBCPX
•   Legg Mason ClearBridge Diversified Large Cap Growth Fund , MUTF: CFLGX
•   Legg Mason Western Asset Strategic Income Fund , MUTF: SDSAX, SDSIX, SLDSX
•   Legg Mason Investment Counsel Financial Services Fund, MUTF: SBFAX, SBFBX, SFSLX
•   Legg Mason ClearBridge Fundamental All Cap Value Fund , MUTF: SFVBX, SFVCX, SHFVX
•   Legg Mason Western Asset Global Inflation Management Fund , MUTF: SBGLX
•   Legg Mason Western Asset Government Securities Fund  , MUTF: HGVSX, SGSLX, SGVAX
•   Legg Mason Lifestyle Allocation 70%  , MUTF: SCGCX, SCGRX, SGRBX
•   Legg Mason Partners Hansberger Global Value Fund , MUTF: SGLAX, SGLBX, SGLCX
•   Legg Mason Lifestyle Allocation 85%  , MUTF: SCHAX, SCHBX, SCHCX
•   Legg Mason Western Asset High Income Fund , MUTF: SHIAX, SHIBX, SHICX
•   Legg Mason Lifestyle Income Fund , MUTF: SCAAX, SCIAX, SCILX
•   Legg Mason Western Asset Intermediate Maturity California Municipals Fund , MUTF: ITCAX, STDBX, SIMLX
•   Legg Mason Western Asset Intermediate Maturity New York Municipals Fund , MUTF:  IMNYX, SINLX, SNMBX
•   Legg Mason Global Currents International All Cap Opportunity Fund , MUTF: SBIBX, SBICX, SBIEX, SBIYX
•   Legg Mason Partners International Large Cap Fund)
•   Legg Mason Batterymarch Global Equity Fund  , MUTF: CFIPX, SILCX, SILLX
•   Legg Mason Western Asset Corporate Bond Fund , MUTF: HBDIX, SBILX, SIGAX, SIGYX
•   Legg Mason ClearBridge Dividend Strategy Fund , MUTF: GROAX, GROBX, SCPLX
•   Legg Mason ClearBridge Large Cap Growth Fund , MUTF: SBLBX, SBLGX, SBLYX, SLCCX
•   Legg Mason Western Asset Intermediate-Term Municipals Fund , MUTF:  SBLTX, SMLLX, STMBX
•   Legg Mason Western Asset Core Plus Bond Fund , MUTF: MGVBX, SHMGX, SMGLX
•   Legg Mason Western Asset Managed Municipals Fund , MUTF: SHMMX, SMMBX, SMMCX, SMMYX
•   Legg Mason Western Asset Massachusetts Municipals Fund , MUTF: SLMMX, SMABX, SMALX
•   Legg Mason ClearBridge Mid Cap Core Fund , MUTF: SBMAX, SBMDX, SBMLX, SMBYX
•   Legg Mason Western Asset Municipal High Income Fund , MUTF:  LMHIX, SMHLX, STXAX, SXMTX
•   Legg Mason Western Asset New Jersey Municipals Fund , MUTF: LNJIX, SHNJX, SNJBX, SNJLX
•   Legg Mason Western Asset New York Municipals Fund , MUTF:  SNPYX, SBNYX, SBYLX, SMNBX
•   Legg Mason Western Asset Oregon Municipals Fund , MUTF: LMOOX, SHORX, SORBX, SORLX
•   Legg Mason Western Asset Pennsylvania Municipals Fund , MUTF: SBPAX, SBPBX, SPALX
•   Legg Mason Partners Real Return Strategy Fund
•   Legg Mason Western Asset Adjustable Rate Income Fund , MUTF: ARMBX, ARMGX, ARMZX
•   Legg Mason ClearBridge Equity Income Builder Fund , MUTF: SBPLX, SOPAX, SOPTX

•   Legg Mason ClearBridge Convertible Fund , MUTF: SCRAX, SCVSX, SCVYX, SMCLX
•   Legg Mason Western Asset Short Duration Municipal Income Fund , MUTF: SHDAX, SHDLX,
•   Legg Mason Partners Small Cap Core , MUTF: SBDBX, SBDLX, SBDSX
•   Legg Mason ClearBridge Small Cap Value Fund , MUTF: SBVAX, SBVBX, SBVLX, SMCYX
•   Legg Mason Investment Counsel Social Awareness Fund , MUTF: SESIX, SESLX, SSIAX
•   Legg Mason Western Asset Core Bond Fund , MUTF: SBTLX, TRBAX, TRBBX



Those who purchased shares in any of the above listed mutual funds from September 11, 2000 through May 31, 2005, have certain options and there are strict and short deadlines running. Those investors in any of those mutual fund should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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