SOURCE: Brower Piven, A Professional Corporation

August 12, 2008 14:23 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in KKR Financial Holdings, LLC to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the October 6, 2008 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - August 12, 2008) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of KKR Financial Holdings, LLC ("KKR" or the "Company") (NYSE: KFN) pursuant or traceable to the Company's Registration Statement and Prospectus issued in connection with its May 4, 2007 merger and share issuance.

The complaint charges KKR and certain of its officers and directors with violations of the Securities Act of 1933. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 6, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/332-0030) to answer any questions you may have in that regard.

KKR is a specialty finance company that invests in multiple asset classes. The complaint alleges that the Registration Statement and Prospectus were false and misleading in that they misrepresented and/or omitted material facts, including understating the risks attributable to real-estate-related assets held by the Company, the sufficiency of the Company's capital and KKR's mortgage-related exposure. The complaint also alleges that when, on August 15, 2007, KKR issued a release which revealed that KKR would be selling $5.1 billion in mortgage backed securities at a loss, the value of KKR shares fell substantially below the original offering price.

If you have suffered a net loss for all transactions in KKR Financial Holdings, LLC common stock pursuant or traceable to the Company's Registration Statement and Prospectus issued in connection with its May 4, 2007 merger and share issuance, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/332-0030
    Email Contact