SOURCE: Holzer Holzer & Fistel, LLC

September 18, 2008 10:47 ET

Holzer Holzer & Fistel, LLC Announces That a Shareholder Class Action Has Been Filed Against First Trust Portfolios L.P. on Behalf of Purchasers of FHI, FHO and FHY Funds

ATLANTA, GA--(Marketwire - September 18, 2008) - A shareholder class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against First Trust Portfolios, L.P. ("First Trust" or the "Company") and certain of its officers and directors on behalf of purchasers of First Trust Strategic High Income Fund (NYSE: FHI), First Trust Strategic High Income Fund II (NYSE: FHO) and First Trust Strategic High Income Fund III (NYSE: FHY) (collectively the "Funds") who purchased the Funds between July 26, 2005 and July 7, 2008, inclusive (the "Class Period").

The lawsuit alleges the Company violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by making false and misleading statements to the public in its press releases and in its Securities Exchange Commission filings. Specifically, the lawsuit alleges the First Trust misrepresented and/or failed to disclose the actual level of risk associated with the Funds.

If you are a member of the class described above with questions concerning your legal rights, you are invited to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.