Wachovia Evergreen Funds Fails Investors

Wachovia Evergreen Funds Post Huge Losses; Investors May Have Legal Rights

If you invested in Wachovia Corp.’s Evergreen Ultra Short Opportunities Fund, a troubled security that lost nearly 20% of its original value from March to June 2008, you may be entitled to financial compensation for your losses. The fund, billed by Wachovia as a way to provide steady income while preserving your investment with little fluctuations, as fully invested in shaky sub-prime mortgage securities, which failed and cost investors hundreds of millions of dollars.

Evergreen Investments is Wachovia’s investment management branch. The company’s Ultra Short Opportunities Fund lost much of its value in just three months. On March 31, 2008, the fun had a net asset value of $731.4 million. On June 19, 2008, the fund had slipped to $403 million in assets. An Evergreen representative blamed the steep decline in value on “difficult market conditions.” Wachovia recently announced liquidation plans that include selling off shares of its Evergreen Ultra Short Opportunities Fund for $7.48.

Ultra-short funds like the Evergreen offering were promoted to investors as alternatives to money-market accounts that provided higher returns by taking more risk. The Evergreen Ultra Short Opportunities Fund is listed under the following symbols: EUBAX, EUBBX, EUBCX and EUBIX.

Get Wachovia Investment Legal Advice

If you invested in the Evergreen Ultra Short Opportunities Fund and lost money, you may have valuable legal rights to be compensated for your losses. The experienced attorneys at Mark & Associates, P.C. will aggressively represent you and seek the best possible legal outcome in your case. Please contact Mark & Associates, P.C. today for a free consultation about your potential case. Call 1-866-50-RIGHTS (1-866-507-4448) or fill out the form at the right.

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