SOURCE: Abraham, Fruchter & Twersky, LLP

August 04, 2008 16:58 ET

Abraham, Fruchter & Twersky, LLP Files Class Action Lawsuit Against Wachovia Corporation and Others With Respect to the Evergreen Fixed Income Trust

NEW YORK, NY--(Marketwire - August 4, 2008) - Abraham, Fruchter & Twersky, LLP commenced a class action lawsuit in the United States District Court for the District of Massachusetts (the "Court") on behalf of a class (the "Class") of all persons who purchased shares of the Evergreen Ultra Short Opportunities Fund (the "Fund") pursuant to the Registration Statement/Prospectus from August 17, 2007 until June 18, 2008. The claims asserted arise Section 11 and 12(a)(2) of the Securities Act of 1933, 15 U.S.C. §§77k and 77l(a)(2), and have been asserted against: Wachovia Corporation, Evergreen Fixed Income Trust, Evergreen Distributor, Inc., Dennis H. Ferro and Kasey Phillips (the "Defendants").

The complaint alleges that the Defendants solicited and sold shares based upon materially false and misleading statements concerning the calculation of the Fund's net asset value ("NAV"). The Fund's NAV was valued at artificially inflated prices resulting in the sale and redemption of the Fund's shares to the Class at incorrect prices. Plaintiff and the Class were harmed by the Defendants' false and misleading statements in causing them to pay improperly inflated prices and also by redeeming shares of other selling shareholders at inflated prices.

If you are a member of the Class, you may, no later than August 22, 2008, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, you must meet certain legal requirements including the Court's determination that the class representative's claim is typical of the claims of other class members, and that the class representative will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiffs."

The attorneys at Abraham, Fruchter & Twersky, LLP have extensive experience in securities class action cases. If you would like to discuss this action or have any questions concerning this notice or your rights as a potential Class member or lead plaintiff, you may contact: Jeffrey S. Abraham or Philip T. Taylor of Abraham, Fruchter & Twersky, LLP, One Penn Plaza, Suite 2805, New York, New York 10119, by telephone at (212) 279-5050, by facsimile at (212) 279-3655 or by e-mail at jabraham@aftlaw.com, ptaylor@aftlaw.com.

Contact Information

  • Jeffrey S. Abraham, Esq.
    Philip T. Taylor, Esq.
    Abraham, Fruchter & Twersky, LLP
    One Penn Plaza, Suite 2805
    New York, New York 10119
    Tel: (212) 279-5050
    fax: (212) 279-3655
    Email Contact
    Email Contact