Klafter Olsen & Lesser LLP Announces That It Has Been Retained to Pursue a Class...

Klafter Olsen & Lesser LLP Announces That It Has Been Retained to Pursue a
Class Action Lawsuit Against Wachovia Corporation in Connection with the
Evergreen Ultra Short Opportunities Fund

WASHINGTON, Aug. 18 /PRNewswire/ -- Klafter Olsen & Lesser LLP has been
retained to commence a securities class action against Wachovia Corporation
(NYSE: WB), Evergreen Fixed Income Trust, Evergreen Investment Management
Company, LLC ("Evergreen Investment") and others in the U.S. District Court
for the District of Massachusetts on behalf of investors in all classes of
shares of the Evergreen Ultra Short Opportunities Fund (Nasdaq: EUBAX, EUBBX,
EUBCX, EUBIX) (the "Ultra-Short Opportunities Fund" or the "Fund") who
purchased or otherwise acquired shares of the Fund between October 28, 2005
and June 18, 2008, inclusive (the "Class Period"), and who have suffered
losses on their investment. The Fund was managed by Evergreen Investment,
which is the name under which Wachovia Corporation operates its investment
management business. As described below, if you purchased these publicly
traded securities during the Class Period, you have until August 22, 2008 to
move to be appointed as a Lead Plaintiff.
The complaint alleges that defendants violated the Securities Act of 1933
by publicly disseminating materially false and misleading information in the
Registration Statements filed by Evergreen Fixed Income Trust on behalf of the
Funds on October 28, 2005, October 26, 2006, and October 26, 2007. The
complaint charges that the defendants solicited investors to purchase shares
of the Fund by stating that the Fund's investment objective was to "provide
current income consistent with preservation of capital and low principal
fluctuation." The complaint alleges that these statements were materially
false and misleading because the fund employed an undisclosed high-risk
strategy that ultimately led to the demise of the Fund. As a result, the
defendants are alleged to have violated the Securities Act of 1933. The law
generally imposes strict liability on the issuer responsible for a materially
false and misleading Registration Statement, meaning that no fraud need be
proved for shareholders to recover.
Beginning on or about June 9, 2008, the Fund's per share net asset values
declined precipitously across all share classes. On June 19, 2008 the Fund
reported that it was liquidating, and that its net assets were only $403
million, far lower than the $731.4 million net asset value reported by the
Fund on March 31, 2008.
If you purchased shares in the Evergreen Ultra-Short Opportunities Fund
during the Class Period (October 28, 2005 - June 18, 2008), you may, no later
than August 22, 2008, move to be appointed as a Lead Plaintiff. A Lead
Plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. If you have sustained significant losses on your
purchases of any of the Fund's publicly traded securities during the Class
Period, please contact Klafter Olsen & Lesser LLP at www.klafterolsen.com or
call us at 202/261-3553 for a more thorough explanation of the Lead Plaintiff
selection process and the claims that can be asserted against the defendants.
Klafter Olsen & Lesser LLP has extensive expertise in prosecuting investor
class actions involving financial fraud and has offices in Washington D.C.,
New York, and New Jersey. Please visit our website for more information about
the Firm.
SOURCE Klafter Olsen & Lesser LLP

Kurt B. Olsen of Klafter Olsen & Lesser LLP, +1-202-261-3553