• Consolidated Amended Fund Derivative Complaint

Chimicles & Tikellis LLP announces that a derivative lawsuit has been filed on behalf of the AllianceBernstein family of funds (the “Funds”), owned and operated by Alliance Capital Management Holding L.P. (NYSE: AC), and its subsidiaries and other affiliates, seeking to pursue remedies under common law and the Investment Advisers Act of 1940.

The Complaint alleges that defendants violated common law and Section 206 of the Investment Advisers Act of 1940. The Complaint charges that certain of the defendants improperly allowed certain favored investors to engage in “timing” of the Funds’ securities. These practices were undisclosed in the prospectuses of the Funds, which falsely represented that the Funds actively police against timing and that premature redemptions will be assessed a charge.

The derivative complaint seeks damages for harm caused to the various mutual fund families, disgorgement of excessive management fees and profits, removal of fund directors, rescission of fund management contracts, and the payment of attorneys’ fees and expenses, as well as therapeutic or structural changes in the funds’ policies and review procedures, aimed at decreasing the risk of similar wrongdoing occurring in the future. It is our belief that a derivative action will maximize recovery to investors because the illegally gained profits will be returned to the Fund and inure to the benefit of the investors.

Please contact us if you are an investor in the Fund and would like to learn more about the cases and possibly become a named plaintiff in a derivate lawsuit filed on behalf of the Fund:

Timothy N. Mathews, Esquire (timothymathews@chimicles.com)
Chimicles & Tikellis LLP
361 West Lancaster Avenue
Haverford, PA 19041
Toll Free: 866-399-2487

The Funds, and the symbols for the respective Funds named below, are as follows:

AllianceBernstein Growth & Income Fund (Sym: CABDX, CBBDX, CBBCX)
AllianceBernstein Health Care Fund (Sym: AHLAX , AHLBX, AHLCX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Mid-Cap Growth (Sym: CHCAX, CHCBX, CHCCX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Growth Fund (Sym: AGRFX, AGBBX, AGRCX)
AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Small CapValue Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Premier Growth Fund (Sym: APGAX, APGBX APGCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym AITAX, AITBX, AITCX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, ABVCX)
AllianceBernstein Quasar Fund (Sym: QUASX QUABX, QUACX)
AllianceBernstein Technology Fund (Sym: ALTFX, ATEBX, ATECX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)

Value Funds

AllianceBernstein Balanced Shares (Sym: CABNX, CABBX, CBACX)
AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)
AllianceBernstein Small Cap Value Fund (Sym: ABASX, ABBSX, ABCSX)
AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)
AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, AVBCX)

Blended Style Series

AllianceBernstein Blended Style Series – U.S. Large Cap Portfolio (Sym:ABBAX, ABBAX, ABBCX)

Global & International Stock Funds

AllianceBernstein All-Asia Investment Fund (Sym: AALAX, AAABX, AAACX)
AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)
AllianceBernstein Greater China '97 Fund (Sym: GCHAX, GCHBX, GCHCX)
AllianceBernstein International Premier Growth Fund (Sym: AIPAX, AIPBX, AIPCX)
AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)
AllianceBernstein Global Small Cap Fund (Sym: GSCAX, AGCBX, GSCCX)
AllianceBernstein New Europe Fund (Sym: ANEAX, ANEBX, ANECX)
AllianceBernstein Worldwide Privatization Fund (Sym: AWPAX, AWPBX, AWPCX)

Select Investor Series

AllianceBernstein Select Investor Series Biotechnology Portfolio (Sym: ASBAX, AIBBX, ASBCX)
AllianceBernstein Select Investor Series Premier Portfolio (Sym: ASPAX, ASPBX, ASPCX)
AllianceBernstein Select Investor Series Technology Portfolio (Sym: AITAX, AITBX, AITCX)

Taxable Bond Funds

AllianceBernstein Americas Government Income Trust (Sym: ANAGX, ANABX, ANACX)
AllianceBernstein Bond Fund Corporate Bond Portfolio (Sym: CBFAX, CBFBX, CBFCX)
AllianceBernstein Bond Fund Quality Bond Portfolio (Sym: ABQUX, ABQBX, ABQCX)
AllianceBernstein Bond Fund U.S. Government Portfolio (Sym: ABUSX, ABUBX ABUCX)
AllianceBernstein Emerging Market Debt Fund (Sym: AGDAX, AGDBX, AGDCX)
AllianceBernstein Global Strategic Income Trust (Sym: AGSAX, AGSBX, AGCCX)
AllianceBernstein High Yield Fund (Sym: AHYAX, AHHBX, AHHCX)
AllianceBernstein Multi-Market Strategy Trust (Sym: AMMSX, AMMBX, AMMCX)
AllianceBernstein Short Duration (Sym: ADPAX, ADPBX, ADPCX)

Tax-Exempt Bond Funds

AllianceBernstein Intermediate California Muni Portfolio (Sym: AICBX, ACLBX, ACMCX)
AllianceBernstein Intermediate Diversified Muni Portfolio (Sym: AIDAX, AIDBX, AIMCX)
AllianceBernstein Intermediate New York Muni Portfolio: (Sym: ANIAX, ANYBX, ANMCX)
AllianceBernstein Muni Income Fund National Portfolio (Sym: ALTHX, ALTBX, ALNCX)
AllianceBernstein Muni Income Fund Arizona Portfolio (Sym: AAZAX, AAZBX, AAZCX)
AllianceBernstein Muni Income Fund California Portfolio (Sym: ALCAX, ALCBX, ACACX)
AllianceBernstein Muni Income Fund Insured California Portfolio (Sym: BUICX, BUIBX, BUCCX)
AllianceBernstein Muni Income Fund Insured National Portfolio (Sym: CABTX, CBBBX, CACCX)
AllianceBernstein Muni Income Fund Florida Portfolio (Sym: AFLAX, AFLBX, AFLCX)
AllianceBernstein Muni Income Fund Massachusetts Portfolio (Sym: AMAAX, AMABX)
AllianceBernstein Muni Income Fund Michigan Portfolio (Sym: AMIAX, AMIBX, AMICX)
AllianceBernstein Muni Income Fund Minnesota Portfolio (Sym: AMNAX, AMNBX, AMNCX)
AllianceBernstein Muni Income Fund New Jersey Portfolio (Sym: ANJAX, ANJBX, ANJCX)
AllianceBernstein Muni Income Fund New York Portfolio (Sym: ALNYX, ALNBX, ANYCX)
AllianceBernstein Muni Income Fund Ohio Portfolio (Sym: AOHAX, AOHBX, AOHCX)
AllianceBernstein Muni Income Fund Pennsylvania Portfolio (Sym: APAAX, APABX, APACX)
AllianceBernstein Muni Income Fund Virginia Portfolio (Sym: AVAAX, AVABX, AVACX)

Investors in the State of Rhode Island 529 Plan, known as the CollegeBoundfundSM, may have invested in one or more of the funds listed below:

AllianceBernstein Growth & Income Fund
AllianceBernstein Mid-Cap Growth Fund
AllianceBernstein Premier Growth Fund
AllianceBernstein Quasar Fund
AllianceBernstein Technology Fund
AllianceBernstein Quality Bond Portfolio
AllianceBernstein International Value Fund
AllianceBernstein Small Cap Value Fund
AllianceBernstein Value Fund

To learn more about the individual cases, click on the following links:

   Friday, July 04th, 2008