Keller Rohrback L.L.P. Announces Breach of Fiduciary Duty Investigation Regarding the Reserve Primary Fund


SEATTLE, Sept. 29, 2008 (GLOBE NEWSWIRE) -- Attorney Advertising -- Keller Rohrback L.L.P. (www.erisafraud.com) today announced that it is investigating Reserve Management Company Inc. ("Reserve Management") for potential violations of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The investigation focuses on retirement plans, including plans for which Reserve Management serves as an Investment Manager or Trustee, that offer the Reserve Primary Fund (the "Primary Fund"), a money market fund, to the participants and beneficiaries of the plans.

The Primary Fund has been marketed as investing in high quality, short term securities that "seeks to maintain a stable $1.00 share price." According to a lawsuit recently filed by Ameriprise Financial Services, Inc., the Reserve Fund (the "Trust") and its agents secretly notified a number of major institutional investors that the Primary Fund had exposure to securities issued by Lehman Brothers Holdings, Inc., which filed for Chapter 11 bankruptcy protection, and that the bankruptcy would severely impact the value of the Primary Fund. The institutional investors purportedly redeemed approximately $41 billion of the Primary Fund's $64 billion under management at a redemption price of $1 per share. Remaining investors suffered losses as a result.

If you are a plan participant in a retirement plan that offers Reserve Management's Primary Fund, and you have suffered losses as a result of investing in this fund, or a fiduciary for such a plan, you may contact paralegal Jennifer Tuato'o or attorneys Derek Loeser or Lynn Sarko toll free at (800) 776-6044, or via e-mail at investor@kellerrohrback.com to discuss whether you have a potential claim against Reserve Management.

Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, Inc., HealthSouth, Marsh & McLennan and Merrill-Lynch. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.



            

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