Legal Question in Securities Law in California

I received a notice from the US District Court of Maryland RE Mutual Funds investment Litigation. I have a claim and control number. My problem is the notice is so complicated, I need advice. My 401K retirement plan was with MFS. They have been accused of unlawful market-timing and late trading. The SEC has reached settlements for some private lawsuits. Deadlines are approaching to either file a claim or to request to be excluded. This action was brought on by The Garden City Group, Inc from Dublin, Ohio. The time period is from 7/31/1999 through 12/08/2003. The shares I owned are all included in the lawsuit. Can you explain to me the differences in filing a claim or of excluding myself? I'm really lost on this one. Thank you, Sharon Bradley


Asked on 8/16/10, 5:09 pm

2 Answers from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

This sounds like a typical class-action lawsuit. Somewhere in the papers you've received there is likely to be a notice from a shareholder-relations or class-relations consulting or public-relations firm containing a toll-free number to call for explanations. That's the first place to try. Beyond that, try searching the Web. Don't call the Court.

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Answered on 8/21/10, 9:17 pm
Daniel Bakondi The Law Office of Daniel Bakondi

Either you accept the settlement reached and be part of the suit, or, if you exclude yourself, usually the only reason is if you are bringing your own lawsuit and think you can do better that the class action.

Best,

Daniel Bakondi, Esq.

[email protected]

415-450-0424

The Law Office of Daniel Bakondi, APLC

870 Market Street, Suite 1161

San Francisco CA 94102

http://www.danielbakondi.com

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Answered on 8/23/10, 10:11 am


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