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Chimicles & Tikellis LLP announces that a derivative lawsuit has been filed on behalf of the MFS family of funds (the “Funds”), operated by Massachusetts Financial Services Company (d/b/a “MFS Investment Management”) (“MFS Company”), a subsidiary of Sun Life Financial Inc. (“Sun Life”), 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 wwillith 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 one of the following mutual fund families and would like to learn more about the cases and possibly become a named plaintiff in a derivate lawsuit filed on behalf of the mutual 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
MFS Capital Opportunities Fund (Sym: MCOFX, MCOBX, MCOCX, MFCRX, MCOTX, EACOX, EBCOX, ECCOX, MCOIX)
MFS Core Growth Fund (Sym: MFCAX, MFCBX, MFCCX, MCFRX, MCRRX, MFCIX)
MFS Emerging Growth Fund(Sym:MEGRX, MEGBX, MFECX,MFERX, MEGRX, EAGRX, EBEGX, ECEGX, MFEGX, MFEIX)
MFS Growth Opportunities Fund (Sym: MGOFX, MGOBX
MFS Large Cap Growth Fund (Sym: MCGAX, MCGBX)
MFS Managed Sectors Fund (Sym: MMNSX, MSEBX, MMNCX)
MFS Mid Cap Growth Fund (Sym: OTCAX, OTCBX, OTCCX, MMCRX, MCPRX, EAMCX, EBCGX, ECGRX, OTCIX)
MFS New Discovery Fund (Sym: MNDAX, MNDBX, MNDCX, MFNRX, MNDRX, EANDX, EBNDX, ECNDX, MNDIX)
MFS New Endeavor Fund (Sym: MECAX, MECBX, MECCX, MNERX, MENRX, MECIX)
MFS Research Fund (Sym: MFRFX, MFRBX, MFRCX, MFRRX, MSRRX, EARFX, EBRFX, ECRFX)
MFS Strategic Growth Fund (Sym: MFSGX, MSBGX, MFGCX, MSGRX, MSTRX, EASGX, EBSGX, ECSGX, MSGIX)
MFS Technology Fund (Sym: MTCAX, MTCBX, MTCCX, MTQRX, MTERX, MTCIX)
Massachusetts Investors Growth Stock(Sym:MIGFX, MIGBX, MIGDX,MIGRX, MIRGX, EISTX, EMIVX, EMICX, MGTIX)
MFS Mid Cap Value Fund (Sym: MVCAX, MCBVX, MVCCX, MMVRX, MCVRX, EACVX, EBCVX, ECCVX, MCVIX)
MFS Research Growth and Income Fund (Sym: MRGAX, MRGBX, MRGCX, MGIRX, RERX, MRGRX)
MFS Strategic Value Fund(Sym: MSVTX, MSVCX, MQSVX, MSVRX, MVSRX, EASVX, EBSVX, ECSVX, MSVLX, MISVX)
MFS Total Return Fund (Sym: MSFRX, MTRBX, MTRCX, MFTRX, MTRRX, EATRX, EBTRX, ECTRX, MTRIX)
MFS Union Standard Equity Fund (Sym: MUEAX, MUSBX, MUECX, MUSEX)
MFS Utilities Fund (Sym: MMUFX, MMUBX, MMUCX, MMURX, MURRX, MMUIX)
MFS Value Fund (Sym: MEIAX, MFEBX, MEICX, MFVRX, MVRRX, EAVLX, EBVLX, ECVLX, MEIIX)
Massachusetts Investors Trust (Sym: MITTX, MITBX, MITCX, MITRX, MIRTX, EAMTX, EBMTX, ECITX, MITIX)
MFS AggressiveGrowthAllocationFund(Sym:MAAGX,MBAGX,MCAGX,MAARX,MAWAX,EAGTX, EBAAX,ECAAX, MIAGX)
MFS Conservative Allocation Fund (Sym: MACFX, MACBX, MACVX, MACRX, MCARX, ECLAX, EBCAX, ECACX, MACIX)
MFS Growth Allocation Fund (Sym: MAGWX, MBGWX, MCGWX, MGARX, MGALX, EAGWX, EBGWX, ECGWX, MGWIX)
MFS Moderate Allocation Fund (Sym: MAMAX, MMABX, MMACX, MAMRX, MARRX, MAMDX, EBMDX, ECMAX, MMAIX)
MFS Bond Fund (Sym: MFBFX, MFBBX, MFBCX, MFBRX, MBRRX, EABDX, EBBDX, ECBDX, MBDIX)
MFS Emerging Markets Debt Fund (Sym: MEDAX, MEDBX, MEDCX, MEDIX)
MFS Government Limited Maturity Fund (Sym: MGLFX, MGLBX, MGLCX)
MFS Government Mortgage Fund (Sym: MGMTX, MGTBX, MGMIX)
MFS Government Securities Fund (Sym: MFGSX, MFGBX, MFGDX, MGSRX, MGVSX, EAGSX, EBGSX, ECGSX)
MFS High Income Fund (Sym: MHITX, MHIBX, MHICX, EAHIX, EMHBX, EMHCX, MHIIX, MHIRX)
MFS High Yield Opportunities Fund (Sym: MHOAX, MHOBX, MHOCX, MHOIX)
MFS Intermediate Investment Grade Bond Fund (Sym: MGBFX, MGBVX, MGBCX, MGBEX, MIBRX)
MFS Limited Maturity Fund (Sym: MQLFX, MQLBX, MQLCX, EALMX, EBLMX, ELDCX, MLDRX)
MFS Research Bond Fund (Sym: MRBFX, MRBBX, MRBCX, EARBX, EBRBX, ECRBX, MRBIX, MRBRX)
MFS Strategic Income Fund (Sym: MFIOX, MIOBX, MIOCX, MFIIX)
MFS Alabama Municipal Bond Fund (Sym: MFALX, MBABX)
MFS Arkansas Municipal Bond Fund (Sym: MFARX, MBARX)
MFS California Municipal Bond Fund (Sym: MCFTX, MBCAX, MCCAX)
MFS Florida Municipal Bond Fund (Sym: MFFLX, MBFLX)
MFS Georgia Municipal Bond Fund (Sym: MMGAX, MBGAX)
MFS Maryland Municipal Bond Fund (Sym: MFSMX, MBMDX)
MFS Massachusetts Municipal Bond Fund (Sym: MFSSX, MBMAX)
MFS Mississippi Municipal Bond Fund (Sym: MISSX, MBMSX)
MFS Municipal Bond Fund (Sym: MMBFX, MMBBX)
MFS Municipal Limited Maturity Fund (Sym: MTLFX, MTLBX, MTLCX)
MFS New York Municipal Bond Fund (Sym: MSNYX, MBNYX, MCNYX)
MFS North Carolina Municipal Bond Fund (Sym: MSNCX, MBNCX, MCNCX)
MFS Pennsylvania Municipal Bond Fund (Sym: MFPAX, MBPAX)
MFS South Carolina Municipal Bond Fund (Sym: MFSCX, MBSCX)
MFS Tennessee Municipal Bond Fund (Sym: MSTNX, MBTNX)
MFS Virginia Municipal Bond Fund (Sym: MSVAX, MBVAX, MVACX)
MFS West Virginia Municipal Bond Fund (Sym: MFWVX, MBWVX)
MFS Emerging Markets Equity Fund (Sym: MEMAX, MEMCX, MEMIX, MEMBX)
MFS Global Equity Fund (Sym: MWEFX, MWEBX, MWECX, MWEIX, MGERX)
MFS Global Growth Fund (Sym: MWOFX, MWOBX, MWOCX, MWOIX, MGLRX)
MFS Global Total Return Fund (Sym: MFWTX, MFWBX, MFWCX, MFWIX, MGRRX)
MFS International Growth Fund (Sym: MGRAX, MGRBX, MGRCX, MQGIX)
MFS International New Discovery Fund (Sym: MIDAX, MIDBX, MIDCX, EAIDX, EBIDX, ECIDX, MWNIX, MINRX)
MFS International Value Fund (Sym: MGIAX, MGIBX, MGICX, MINIX)
MFS Research International Fund (Sym: MRSAX, MRIBX, MRICX, EARSX, EBRIX, ECRIX, MRSIX, MRIRX)
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