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DWS RREEF Real Estate Fund Inc (AMEX: SRQ) Investor Securities Class Action Lawsuit 08/24/2009

  • If you purchased shares of DWS RREEF Real Estate Fund Inc (AMEX: SRQ) and/or DWS RREEF Real Estate Fund II Inc (AMEX: SRO), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Deutsche Bank
Security
AMEX: SRQ

Case Name
DWS RREEF Real Estate Fund Inc Shareholder Class Action Lawsuit 08/24/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 21, 2010 - The court entered a judgment and closed the case.
September 19, 2010 - The court granted defendants' motion to dismiss.

February 8, 2010 - Defendants filed a motion to dismiss.

December 23, 2009 - The lead plaintiff filed an amended complaint.

December 3, 2009 - Lead plaintiff and lead counsel were appointed.

October 23, 2009 - Lead plaintiff motion was filed.

August 24, 2009 - An investor in shares of DWS RREEF Real Estate Fund II Inc (AMEX: SRO) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of purchasers of the common shares of DWS RREEF Real Estate Fund Inc (AMEX: SRQ) and/or DWS RREEF Real Estate Fund II Inc (AMEX: SRO) between March 8, 2007 and November 17, 2008 against DWS RREEF Real Estate Fund Inc and others over alleged violations of Federal securities laws in connection with certain allegedly false and misleading statements made between March 8, 2007 and November 17, 2008.

According to the complaint the plaintiff alleges that DWS RREEF Real Estate Fund Inc, DWS RREEF Real Estate Fund II Inc, and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between March 8, 2007 and November 17, 2008 reports that misrepresented the DWS RREEF Real Estate Fund Inc’s and DWS RREEF Real Estate Fund II Inc's investments, leverage and exposure to the auction rate preferred securities ( ARPS ) market. The plaintiff accuses that due to defendants' false and misleading statements, investors purchased the common stock of DWS RREEF Real Estate Fund Inc, DWS RREEF Real Estate Fund II Inc between March 8, 2007 and November 17, 2008 at artificially inflated prices and when the truth was revealed, which caused investors to realize that distributions would cease, the price per share of DWS RREEF Real Estate Fund Inc dropped from $3.45 per share on November 14, 2008 to $2.65 on November 18, 2008, and the price per share of DWS RREEF Real Estate Fund II Inc dropped from $1.90 per share on November 14, 2008 to $1.42 per share on November 18, 2008.

DWS RREEF Real Estate Fund Inc is a closed-end diversified management investment company. DWS RREEF Real Estate Fund Inc concentrates its investments in real estate securities, including real estate investment trusts (REITs).