Colling, Gilbert, Wright & Carter Securites Fraud

Wachovia Corp., the parent company of Wachovia Bank, has decided to liquidate the shares of their Evergreen Ultra Short Opportunities Fund. The fund, much like the Schwab Yield Plus, has suffered extensive losses due to overexposure to sub prime mortgage backed securities. Many investors who believe they were mislead as to the fund holdings are filing Evergreen Fund lawsuits.

According to a June 19, 2008 Bloomberg news article, Investors in the Ultra-Short Opportunities Fund will receive $7.48 a share, or the June 18, 2008 net asset value, in return for their shares. Wachovia will finance the redemptions to guarantee the price. This news came on the heals of the arrest of two Bear Stearns hedge fund managers who allegedly lied to investors about the mortgage related risk in the two funds they managed while liquidating their own shares (front running).

The Evergreen fund has lost 20 percent this year, second worst among ultra-short bond funds tracked by Morningstar. Schwab's YieldPlus fund, which is down 29 percent this year, is the worst performer among ultra-short funds, which were marketed to investors as safe alternatives to money-market accounts that provided higher returns by taking slightly more risk.

If you have experienced Evergreen Fund losses in the Evergreen Ultra-Short Opportunities Fund, Schwab Yield Plus or any of the Morgan Keegan RMK Income Funds, please contact our office at (866) 352-3476 or email us for a free case evaluation. Thank you.