BALTIMORE, Dec. 12, 2003 (PRIMEZONE) -- Law Offices Of Charles J. Piven, P.A. announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all purchasers of shares of the MFS Mutual Funds, which are managed by Massachusetts Financial Services Company, a subsidiary of Sun Life Financial, Inc. (NYSE:SLF) during the period between December 15, 1998 and December 8, 2003, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940.
The Funds and the symbols for the respective Funds subject to the lawsuit are as follows:
- MFS Capital Opportunities Fund (Nasdaq:MCOFX), (Nasdaq:MCOBX), (Nasdaq:MCOCX), (Nasdaq:MFCRX), (Nasdaq:MCOTX), (Nasdaq:EACOX), (Nasdaq:EBCOX), (Nasdaq:ECCOX)
- MFS Core Growth Fund (Nasdaq:MFCAX), (Nasdaq:MFCBX), (Nasdaq:MFCCX), Nasdaq:MCFRX), (Nasdaq:MCRRX)
- MFS Emerging Growth Fund (Nasdaq:MEGRX), (Nasdaq:MEGBX), (Nasdaq:MFECX), (Nasdaq:MFERX), (Nasdaq:MEGRX -News), (Nasdaq:EAGRX), (Nasdaq:EBEGX), (Nasdaq:ECEGX)
- MFS Growth Opportunities Fund (Nasdaq:MGOFX), (Nasdaq:MGOBX -News)
- MFS Large Cap Growth Fund (Nasdaq:MCGAX), (Nasdaq:MCGBX)
- MFS Managed Sectors Fund (Nasdaq:MMNSX), (Nasdaq:MSEBX), (Nasdaq:MMNCX)
- MFS Mid Cap Growth Fund (Nasdaq:OTCAX), (Nasdaq:OTCBX -News), (Nasdaq:OTCCX), (Nasdaq:MMCRX), (Nasdaq:MCPRX), (Nasdaq:EAMCX), (Nasdaq:EBCGX), (Nasdaq:ECGRX -News)
- MFS New Discovery Fund (Nasdaq:MNDAX), (Nasdaq:MNDBX), (Nasdaq:MNDCX), (Nasdaq:MFNRX), (Nasdaq:MNDRX), (Nasdaq:EANDX), (Nasdaq:EBNDX), (Nasdaq:ECNDX)
- MFS New Endeavor Fund (Nasdaq:MECAX), (Nasdaq:MECBX -News), (Nasdaq:MECCX), (Nasdaq:MNERX), (Nasdaq:MENRX -News)
- MFS Research Fund (Nasdaq:MFRFX), (Nasdaq:MFRBX), (Nasdaq:MFRCX), (Nasdaq:MFRRX), (Nasdaq:MSRRX), (Nasdaq:EARFX), (Nasdaq:EBRFX), (Nasdaq:ECRFX)
- MFS Strategic Growth Fund (Nasdaq:MFSGX), (Nasdaq:MSBGX -News), (Nasdaq:MFGCX), (Nasdaq:MSGRX), (Nasdaq:MSTRX), (Nasdaq:EASGX), (Nasdaq:EBSGX), (Nasdaq:ECSGX)
- MFS Technology Fund (Nasdaq:MTCAX), (Nasdaq:MTCBX), (Nasdaq:MTCCX), (Nasdaq:MTQRX), (Nasdaq:MTERX)
- Massachusetts Investors Growth Stock (Nasdaq:MIGFX), (Nasdaq:MIGBX), (Nasdaq:MIGDX), (Nasdaq:MIGRX), (Nasdaq:MIRGX), (Nasdaq:EISTX), (Nasdaq:EMIVX), (Nasdaq:EMICX)
- MFS Mid Cap Value Fund (Nasdaq:MVCAX), (Nasdaq:MCBVX), (Nasdaq:MVCCX), (Nasdaq:MMVRX), (Nasdaq:MCVRX), (Nasdaq:EACVX), (Nasdaq:EBCVX), (Nasdaq:ECCVX)
- MFS Research Growth and Income Fund (Nasdaq:MRGAX), (Nasdaq:MRGBX), (Nasdaq:MRGCX), (Nasdaq:MGIRX), (Nasdaq:MRERX)
- MFS Strategic Value Fund (Nasdaq:MSVTX), (Nasdaq:MSVCX - News), (Nasdaq:MQSVX), (Nasdaq:MSVRX), (Nasdaq:MVSRX), (Nasdaq:EASVX), (Nasdaq:EBSVX), (Nasdaq:ECSVX)
- MFS Total Return Fund (Nasdaq:MSFRX), (Nasdaq:MTRBX), (Nasdaq:MTRCX), (Nasdaq:MFTRX), (Nasdaq:MTRRX), (Nasdaq:EATRX), (Nasdaq:EBTRX), (Nasdaq:ECTRX)
- MFS Union Standard Equity Fund (Nasdaq:MUEAX), (Nasdaq:MUSBX), (Nasdaq:MUECX)
- MFS Utilities Fund (Nasdaq:MMUFX), (Nasdaq:MMUBX), (Nasdaq:MMUCX), (Nasdaq:MMURX), (Nasdaq:MURRX)
- MFS Value Fund (Nasdaq:MEIAX), (Nasdaq:MFEBX), (Nasdaq:MEICX), (Nasdaq:MFVRX), (Nasdaq:MVRRX), (Nasdaq:EAVLX), (Nasdaq:EBVLX), (Nasdaq:ECVLX)
- Massachusetts Investors Trust (Nasdaq:MITTX), (Nasdaq:MITBX), (Nasdaq:MITCX), (Nasdaq:MITRX), (Nasdaq:MIRTX), (Nasdaq:EAMTX), (Nasdaq:EBMTX), (Nasdaq:ECITX)
- MFS Aggressive Growth Allocation Fund (Nasdaq:MAAGX), (Nasdaq:MBAGX), (Nasdaq:MCAGX), (Nasdaq:MAARX), (Nasdaq:MAWAX), (Nasdaq:EAGTX), (Nasdaq:EBAAX), (Nasdaq:ECAAX)
- MFS Conservative Allocation Fund (Nasdaq:MACFX), (Nasdaq:MACBX), (Nasdaq:MACVX), (Nasdaq:MACRX), (Nasdaq:MCARX), (Nasdaq:ECLAX), (Nasdaq:EBCAX), (Nasdaq:ECACX)
- MFS Growth Allocation Fund (Nasdaq:MAGWX), (Nasdaq:MBGWX), (Nasdaq:MCGWX), (Nasdaq:MGARX), (Nasdaq:MGALX), (Nasdaq:EAGWX), (Nasdaq:EBGWX), (Nasdaq:ECGWX)
- MFS Moderate Allocation Fund (Nasdaq:MAMAX), (Nasdaq:MMABX), (Nasdaq:MMACX), (Nasdaq:MAMRX), (Nasdaq:MARRX), (Nasdaq:EAMDX), (Nasdaq:EBMDX), (Nasdaq:ECMAX)
- MFS Bond Fund (Nasdaq:MFBFX), (Nasdaq:MFBBX), (Nasdaq:MFBCX), (Nasdaq:MFBRX), (Nasdaq:MBRRX), (Nasdaq:EABDX), (Nasdaq:EBBDX), (Nasdaq:ECBDX)
- MFS Emerging Markets Debt Fund (Nasdaq:MEDAX), (Nasdaq:MEDBX), (Nasdaq:MEDCX)
- MFS Government Limited Maturity Fund (Nasdaq:MGLFX), (Nasdaq:MGLBX), (Nasdaq:MGLCX)
- MFS Government Mortgage Fund (Nasdaq:MGMTX), (Nasdaq:MGTBX -News)
- MFS Government Securities Fund (Nasdaq:MFGSX), (Nasdaq:MFGBX - News), (Nasdaq:MFGDX), (Nasdaq:MGSRX), (Nasdaq:MGVSX), (Nasdaq:EAGSX), (Nasdaq:EBGSX), (Nasdaq:ECGSX)
- MFS High Income Fund (Nasdaq:MHITX), (Nasdaq:MHIBX), (Nasdaq:MHICX), (Nasdaq:EAHIX), (Nasdaq:EMHBX), (Nasdaq:EMHCX ; (Nasdaq:MHIIX), (Nasdaq:MHIRX)
- MFS High Yield Opportunities Fund (Nasdaq:MHOAX), (Nasdaq:MHOBX), (Nasdaq:MHOCX), (Nasdaq:MHOIX)
- MFS Intermediate Investment Grade Bond Fund (Nasdaq:MGBFX), (Nasdaq:MGBVX), (Nasdaq:MGBCX), (Nasdaq:MGBEX), (Nasdaq:MIBRX)
- MFS Limited Maturity Fund (Nasdaq:MQLFX ; Nasdaq:MQLBX), (Nasdaq:MQLCX), (Nasdaq:EALMX), (Nasdaq:EBLMX), (Nasdaq:ELDCX), (Nasdaq:MLDRX)
- MFS Research Bond Fund (Nasdaq:MRBFX), (Nasdaq:MRBBX), (Nasdaq:MRBCX), (Nasdaq:EARBX), (Nasdaq:EBRBX), (Nasdaq:ECRBX), (Nasdaq:MRBIX), (Nasdaq:MRBRX)
- MFS Strategic Income Fund (Nasdaq:MFIOX), (Nasdaq:MIOBX), (Nasdaq:MIOCX), (Nasdaq:MFIIX)
- MFS Alabama Municipal Bond Fund (Nasdaq:MFALX), (Nasdaq:MBABX)
- MFS Arkansas Municipal Bond Fund (Nasdaq:MFARX), (Nasdaq:MBARX)
- MFS California Municipal Bond Fund (Nasdaq:MCFTX), (Nasdaq:MBCAX), (Nasdaq:MCCAX)
- MFS Florida Municipal Bond Fund (Nasdaq:MFFLX), (Nasdaq:MBFLX)
- MFS Georgia Municipal Bond Fund (Nasdaq:MMGAX), (Nasdaq:MBGAX)
- MFS Maryland Municipal Bond Fund (Nasdaq:MFSMX), (Nasdaq:MBMDX)
- MFS Massachusetts Municipal Bond Fund (Nasdaq:MFSSX), (Nasdaq:MBMAX)
- MFS Mississippi Municipal Bond Fund (Nasdaq:MISSX), (Nasdaq:MBMSX),
- MFS Municipal Bond Fund (Nasdaq:MMBFX), (Nasdaq:MMBBX)
- MFS Municipal Limited Maturity Fund (Nasdaq:MTLFX), (Nasdaq:MTLBX), (Nasdaq:MTLCX)
- MFS New York Municipal Bond Fund (Nasdaq:MSNYX), (Nasdaq:MBNYX), (Nasdaq:MCNYX)
- MFS North Carolina Municipal Bond Fund (Nasdaq:MSNCX), (Nasdaq:MBNCX), (Nasdaq:MCNCX)
- MFS Pennsylvania Municipal Bond Fund (Nasdaq:MFPAX), (Nasdaq:MBPAX)
- MFS South Carolina Municipal Bond Fund (Nasdaq:MFSCX), (Nasdaq:MBSCX)
- MFS Tennessee Municipal Bond Fund (Nasdaq:MSTNX), (Nasdaq:MBTNX)
- MFS Virginia Municipal Bond Fund (Nasdaq:MSVAX), (Nasdaq:MBVAX), (Nasdaq:MVACX)
- MFS West Virginia Municipal Bond Fund (Nasdaq:MFWVX), (Nasdaq:MBWVX)
- MFS Emerging Markets Equity Fund (Nasdaq:MEMAX), (Nasdaq:MEMBX), (Nasdaq:MEMCX), (Nasdaq:MEMIX)
- MFS Global Equity Fund(Nasdaq:MWEFX), (Nasdaq:MWEBX), (Nasdaq:MWECX), (Nasdaq:MWEIX), (Nasdaq:MGERX)
- MFS Global Growth Fund (Nasdaq:MWOFX), (Nasdaq:MWOBX), (Nasdaq:MWOCX), (Nasdaq:MWOIX), (Nasdaq:MGLRX)
- MFS Global Total Return Fund (Nasdaq:MFWTX), (Nasdaq:MFWBX), (Nasdaq:MFWCX), (Nasdaq:MFWIX), (Nasdaq:MGRRX)
- MFS International Growth Fund (Nasdaq:MGRAX), (Nasdaq:MGRBX), (Nasdaq:MGRCX), (Nasdaq:MQGIX)
- MFS International New Discovery Fund (Nasdaq:MIDAX), (Nasdaq:MIDBX), (Nasdaq:MIDCX), (Nasdaq:EAIDX), (Nasdaq:EBIDX), (Nasdaq:ECIDX), (Nasdaq:MWNIX), (Nasdaq:MINRX)
- MFS International Value Fund (Nasdaq:MGIAX), (Nasdaq:MGIBX), (Nasdaq:MGICX), (Nasdaq:MINIX)
- MFS Research International Fund (Nasdaq:MRSAX), (Nasdaq:MRIBX), (Nasdaq:MRICX), (Nasdaq:EARSX), (Nasdaq:EBRIX), (Nasdaq:ECRIX), (Nasdaq:MRSIX), (Nasdaq:MRIRX)
The wrongful conduct alleged in and which is the subject of the lawsuit relates to "timing." As used, "timing" is an investment technique involving short-term, "in and out" trading of mutual fund shares to turn a quick profit. The lawsuit alleges that timing injures ordinary mutual fund investors who are not allowed to engage in such practices and benefits the mutual fund companies.
No class has yet been certified in the lawsuit. Until a class is certified, you are not represented unless you retain an attorney. If you are a member of the proposed class, meaning you are one who purchased any of the mutual funds referenced herein during the Class Period, you may be eligible to serve as a plaintiff. To be a member of the class, if certified, you need not take any action at this time. You may retain counsel of your choice. If you bought shares of any of the funds between December 15, 1998 and December 8, 2003, inclusive, and you wish to serve as lead plaintiff, a motion must be filed with the Court no later than February 9, 2004.
If you are one who purchased any of the mutual funds referenced above during the Class Period and want to discuss your legal rights, or if you have information or questions about other mutual fund companies being investigated for improper conduct, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Law Offices Of Charles J. Piven has been involved in securities litigation for over ten years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at hoffman@pivenlaw.com or by calling 410/986-0036.
More information on this and other class action lawsuits can be found on the Class Action Newsline at www.primezone.com/ca