Class Action Suits filed, as of June 13, 2008
You may view any one of them by clicking

Bank of America

Citigroup

Deutsche Bank

ETrade -- Suit 1

ETrade -- Suit 2

JPMorgan

Merrill Lynch -- Suit 1

Merrill Lynch -- Suit 2

Morgan Stanley

Oppenheimer & Co.

Raymond James

RBC Dain Rauscher

Sun Trust from Levi & Korsinksy

Sun Trust from Klayman & Toskes

TDAmeritrade

UBS

Arnold Chase Family versus UBS

Wachovia

Wells Fargo

June 12 Update from Girard Gibbs, law firm:

Thus far, we have filed 13 ARS class action lawsuits. These include: Deutsche Bank, TD Ameritrade, Wachovia, UBS, Merrill Lynch, Citigroup, E-Trade, Morgan Stanley, Raymond James, RBC Dain Rauscher, Wells Fargo, Oppenheimer and Bank of America.

As of today, we have been contacted by over 2,150 individuals throughout the country regarding their purchase of auction rate cases. In terms of “joining the suit,” we do not require individuals to “join,” so to speak, at this juncture of the case, since their interests are represented by our firm as members of the proposed class (those who purchased through the named broker-dealers during the relevant class period).

Those individuals are, however, strongly encouraged to contact us as they have been integral to the development of our cases to the extent that they can provide us with information and documentation regarding their purchase of the ARS. We are also distributing periodic updates to these individuals to inform them on the progression of our cases and any related ARS developments. They can submit their information directly at www.girardgibbs.com/auctionrate.html.

As for “progressing in federal courts,” in most of our cases, we are approaching lead plaintiff deadlines, or have just submitted lead plaintiff applications. A lead plaintiff is a proactive member of the plaintiff class who acts as a representative party for all of the shareholders. Lead plaintiffs are typically appointed by the court as the class member or members most capable of representing the interests of the entire class. The lead plaintiffs are encouraged to have oversight of, and input into, the litigation of a class action beyond that of other class members. Throughout the next few weeks, lead plaintiffs will be appointed by the courts in all of the ARS cases that have been filed.

The class actions are progressing in federal courts in New York and California.
ARS purchasers who have come forward to lead class actions suits are moving for appointment as lead plaintiffs.

Many class members have provided us with investigative leads and documents. This information is critical to our effective representation of ARS holders. We urge all holders of ARS who have information regarding the sale of ARS, such as written sales materials or contacts with brokers or other industry participants who are willing to cooperate, to contact us by email at auctionrate@girardgibbs.com.

Daniel Girard
GIRARD GIBBS LLP
601 California Street, Suite 1400
San Francisco CA 94108
Phone (415) 981-4800

Return to AuctionRatePreferreds.org