October 25, 2010 - The court approved the settlement and dismissed action against certain defendants.
May 26, 2010 - The court preliminary approved the settlement.

December 14, 2009 - Parties filed a stipulation of settlement.

January 16, 2008 - The court granted in part and denied in part the defendants' motion to dismiss.

October 15, 2007 - The court granted a motion to dismiss of one defendant.

August 24, 2007 - The court granted the motion for voluntary dismissal of one defendant.

August 20, 2007 - Plaintiff filed a motion for voluntary dismissal of one defendant.

July 3, 2007 - Several defendants filed a motion to dismiss.

April 11, 2007 - The lead plaintiff field a redacted second consolidated amended complaint.

November 2, 2006 - Another motion to dismiss was filed.

August 31, 2006 - Another motion to dismiss was filed.

August 24, 2006 - The defendants filed motions to dismiss.

April 6, 2006 - The court in part granted and in part denied the motion of dismiss of a few defendants. The court denied another motion of dismiss. The court denied the motion of dismiss of another defendant and granted motions to dismiss of other defendants.

March 17, 2006 - The lead plaintiff voluntarily dismissed one of the defendants without prejudice.

March 25, 2005 - Another motion to dismiss was filed.

March 7, 2005 - More motions to dismiss were filed by different defendants.

March 3, 2005 - The court denied the motion to dismiss of one defendant.

February 25, 2005 - More defendant filed motions to dismiss.

February 22, 2005 - The lead plaintiff filed a motion to amend/correct the amended consolidated complaint.

January 7, 2005 - The defendants filed a motion to dismiss.

October 19, 2004 - The lead plaintiff filed an amended consolidated complaint.

October 7, 2004 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

October 6, 2004 - Another plaintiff filed an amended complaint.

September 29, 2004 - Eight plaintiffs filed amended complaints.

August 16, 2004 - Another lead plaintiff motion was filed.

May 28, 2004 - Another lead plaintiff motion was filed.

May 24, 2004 - Another lead plaintiff motion was filed.

April 19, 2004 - Lead plaintiff motions were filed.

March 22, 2004 - The case was transferred to the U.S. District Court for the District of Maryland.

October 24, 2003 - An investor in shares of funds managed by Federated Investors Inc (NYSE: FII) filed a lawsuit in the U.S. District Court for the Western District of Pennsylvania against Federated Investors Inc over alleged violations of Federal Securities Laws.

The complaint charges Federated Investors Inc, Federated Investment Management Co, Federated Securities Corporation, Federated Investors Funds, the Federated Funds, and the Doe Defendants with violations of the Securities Act of 1933 (the 'Securities Act'), the Securities Exchange Act of 1934 (the 'Exchange Act'), the Investment Company Act of 1940 (the 'Investment Company Act'), and for common law breach of fiduciary duties. The complaint alleges that between November 1, 1998 and September 3, 2003 the Federated Funds and the other defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the Federated Funds. According to the complaint, the defendants permitted certain favored investors to illegally engage in 'timing' of the Federated Funds whereby these favored investors were permitted to conduct short-term, 'in and out' trading of mutual fund shares, despite explicit restrictions on such activity in the Federated Funds' prospectuses.

The complaint further alleges that the defendants permitted certain favored investors to illegally receive the prior day's price for orders placed after 4 p.m. This allowed the Doe Defendants and other mutual fund investors who engaged in the same wrongful course of conduct to capitalize on post 4:00 p.m. information, while those who bought their mutual fund shares lawfully could not.

The following funds are subject to the above lawsuit:

Federated Adjustable Rate Securities Fund (Sym: FEUGX, FASSX)
Federated American Leaders Fund, Inc. (Sym: FALDX, FALBX, FALCX, FALFX)
Federated Bond Fund (Sym: FDBAX, FDBBX, FDBCX, ISHIX)
Federated California Municipal Income Fund (Sym: FCMIX, CMUIX)
Federated Capital Appreciation Fund (Sym: FEDEX, CPABX, CPACX, CPAKX)
Federated Capital Income Fund (Sym: CAPAX, CAPBX, CAPCX, CAPFX)
Federated Capital Preservation Fund
Federated Communications Technology Fund (Sym: FCTAX, FCTEX, FCTYX)
Federated Conservative Allocation Fund (Sym: FMCGX, FCGSX)
Federated Equity Income Fund, Inc. (Sym: LEIFX, LEIBX, LEICX, LFEIX)
Federated European Equity Fund (Sym: EURAX, EURBA, EURCX)
Federated Fund for U.S. Government Securities (Sym: FUSGX, FUSBX, FUSCX)
Federated GNMA Trust (Sym: FGMAX, FGSSX)
Federated Global Equity Fund (Sym: FGEIX, FGEFX, FGEDX)
Federated Global Value Fund (Sym: WUFAX, WUFBX,WUFCX)
Federated Government Income Securities, Inc. (Sym: FGOAX, FGOBX, FGOCX,
FGOIX)
Federated Government Ultrashort Duration Fund (Sym: FGUAX, FGUSX, FEUSX)
Federated Growth Allocation Fund (Sym: FMGPX, FMGSX)
Federated Growth Strategies Fund (Sym: FGSAX, FGSBX, FGSCX)
Federated High Income Bond Fund, Inc. (Sym: FHIIX, FHBBX, FHICX)
Federated High Yield Trust, Federated Income Trust (Sym: FHYTX)
Federated Income Trust (Sym: FICMX, FITSX)
Federated Institutional High Yield Bond Fund (Sym: FIHBX)
Federated Intermediate Income Fund (Sym: FIIFX, INISX)
Federated Intermediate Municipal Trust (Sym: FIMTX, FIMYX)
Federated International Bond Fund (Sym: FTIIX, FTBBX, FTIBX)
Federated International Capital Appreciation Fund (Sym: IGFAX, IGFBX,
IGFCX)
Federated International Equity Fund (Sym: FTITX, FIEBX, FIECX)
Federated International High Income Fund (Sym: IHIAX, IHIBX, IHICX)
Federated International Small Company Fund (Sym: ISCAX, ISCBX, ISCCX)
Federated International Value Fund (Sym: FGFAX, FGFBX, FGFCX)
Federated Kaufmann Fund (Sym: KAUAX, KAUBX, KAUCX, KAUFX)
Federated Kaufmann Small Cap Fund (Sym: FKASX, FKBSX, FKCSX)
Federated Large Cap Growth Fund (Sym: FLGAX, FLGBX, FLGCX)
Federated Limited Duration Fund (Sym: FTRLX, FTRDX)
Federated Limited Duration Government Fund, Inc. (Sym: FLDIX, FLDSX)
Federated Limited Term Fund (Sym: LTDFX, LTFSX)
Federated Limited Term Municipal Fund (Sym: LMINX, LMFSX)
Federated Managed Income Portfolio (Sym: FMIPX, FIPSX)
Federated Market Opportunity Fund (Sym: FMAAX, FMBBX, FMRCX)
Federated Max-Cap Index Fund (Sym: MXCCX, FISPX, FMXKX, FMXSX)
Federated Michigan Intermediate Municipal Trust (Sym: MMIFX)
Federated Mid-Cap Index Fund (Sym: FMDCX)
Federated Mini-Cap Index Fund (Sym: MNCCX, FMCPX)
Federated Moderate Allocation Fund (Sym: FMMGX, FMMSX)
Federated Mortgage Fund (Sym: FGFIX, FGFSX)
Federated Muni and Stock Advantage Fund (Sym:FMUAX, FMNBX, FMUCX)
Federated Municipal Opportunities Fund, Inc. (Sym: FMOAX, FMOBX, FMNCX,
FHTFX)
Federated Municipal Securities Fund, Inc. (Sym: LMSFX, LMSBX, LMSCX)
Federated Municipal Ultrashort Fund (Sym: FMUUX, FMUSX)
Federated New York Municipal Income Fund (Sym: NYIFX, NYIBX)
Federated North Carolina Municipal Income Fund (Sym: NCIFX)
Federated Ohio Municipal Income Fund (Sym: OMIFX)
Federated Pennsylvania Municipal Income Fund (Sym: PAMFX, FPABX)
Federated Short-Term Income Fund (Sym: FSTIX, FSISX)
Federated Short-Term Municipal Trust (Sym: FSHIX, FSHSX)
Federated Stock Trust (Sym: FSTKX)
Federated Stock and Bond Fund, Inc. (Sym: FSTBX, FSBBX, FSBCX, FSBKX)
Federated Strategic Income Fund (Sym: STIAX, SINBX, SINCX, STFSX)
Federated Total Return Bond Fund (Sym: TLRAX, TLRBX, TLRCX, FTRBX, FTRKX,
FTRFX)
Federated Total Return Government Bond Fund (Sym: FTRGX, FTGSX)
Federated U.S. Government Bond Fund (Sym: FEDBX)
Federated U.S. Government Securities Fund: 1-3 Years (Sym: FSGVX, FSGIX,
FSGTX)
Federated U.S. Government Securities Fund: 2-5 Years (Sym: FIGTX, FIGKX,
FIGIX)
Federated Ultrashort Bond Fund (Sym: FULAX, FULIX, FULBX)